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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. § 152307 Restrictions us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 1523 NATIONAL MUSIC COUNCIL 152307 36 U.S.C. § 152307 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/s152307 data/legal/raw/us/code/title-36/usc36.xml ab7bfc0343ba82a89534f9020bd7f7390cc312019635efb0d25585e9a062b564 d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d dc1108f3365d1871e813653c9cb3bd2d558aaee7e9ecba43a6d1cf3b25e925ed 2026-07-04 official
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36 U.S.C. § 152307 - Restrictions

Text

(a) Profit.— The corporation may not engage in business for profit.

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

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

(d) 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 except on dissolution or final liquidation of the corporation.

(e) 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. 1413.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 152307(a)36:672 (words after comma).Aug. 1, 1956, ch. 824, §§ 9, 10, 12, 70 Stat. 796. 152307(b)36:672 (words before comma). 152307(c)36:670. 152307(d)36:669(a). 152307(e)36:669(b). In subsection (a), the word “pecuniary” is omitted as unnecessary. In subsection (b), the words “any shares of” are omitted as unnecessary. In subsection (d), the words “inure to the benefit of” are substituted for “inure to” for consistency in the revised title. The words “as provided in section 675 of this title” are omitted as unnecessary.