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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. § 150906 Restrictions us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 1509 NATIONAL COUNCIL ON RADIATION PROTECTION AND MEASUREMENTS 150906 36 U.S.C. § 150906 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/s150906 data/legal/raw/us/code/title-36/usc36.xml 29dcae9b449a5670d1e7b9bb8d7a5129813067c998e117193f58a8c6361cdeff d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d 7376975aa7556b99180c10595a664172a2af693b6a4efe96481ab7690b776791 2026-07-04 official
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36 U.S.C. § 150906 - Restrictions

Text

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

(b) Political Activities.— The corporation or a director, officer, or agent as such may not contribute to, support, or assist a political party or candidate for office.

(c) 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 corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of reasonable compensation to an officer in an amount approved by the board of directors.

(d) Loans.— The corporation may not make a loan to a director, officer, or employee. Directors who vote for or assent to making a loan to a director, officer, or employee, and officers who participate in making the loan, are jointly and severally liable to the corporation for the amount of the loan until it is repaid.

(Pub. L. 105225, Aug. 12, 1998, 112 Stat. 1396.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 150906(a)36:4512.July 14, 1964, Pub. L. 88376, §§ 9, 10, 12, 78 Stat. 322, 323. 150906(b)36:4510. 150906(c)36:4509(a). 150906(d)36:4509(b). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “duly appointed” are omitted as unnecessary. In subsection (c), the words “inure to the benefit of” are substituted for “inure to” for consistency in the revised title.