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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 36 U.S.C. § 110107 Restrictions us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 1101 JEWISH WAR VETERANS OF THE UNITED STATES OF AMERICA, INCORPORATED 110107 36 U.S.C. § 110107 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc36@119-100.zip /us/usc/t36/s110107 data/legal/raw/us/code/title-36/usc36.xml 23c7a3a5be2c85c5e2aa770716a5b7f496233f41be3eb966d95f2c1c1621b86e d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d cf7e086c8fb42078fccfd9389bcbe9d40bfd658edbec2f5b3bb1cbbd9f8d7ab3 2026-07-04 official
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36 U.S.C. § 110107 - Restrictions

Text

(a) Stock and Dividends.— The corporation may not issue stock or declare or pay a dividend.

(b) Distribution of Income or Assets.— The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member during the life of the charter granted by this chapter. This subsection does not prevent the payment of reasonable compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the board of directors.

(c) Loans.— The corporation may not make a loan to a director, officer, or employee.

(d) Claim of Governmental Approval or Authority.— The corporation may not claim congressional approval or the authority of the United States Government for any of its activities.

(Pub. L. 105225, Aug. 12, 1998, 112 Stat. 1368.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 11010736:2708.Aug. 21, 1984, Pub. L. 98391, § 8, 98 Stat. 1359. In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “inure to the benefit of” are substituted for “inure to” for consistency in the revised title. The words “This subsection does not prevent” are substituted for “Nothing in this subsection shall be construed to prevent” for consistency in the revised title and to eliminate unnecessary words.