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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. § 170308 Restrictions us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 1703 PEARL HARBOR SURVIVORS ASSOCIATION 170308 36 U.S.C. § 170308 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/s170308 data/legal/raw/us/code/title-36/usc36.xml b886c18daf2d9177201eaa3607c8d495d80ef9b21535416282c9b01dd6023446 d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d 08f6b7b3a75825d95c6882e69baaa031eed548b1b288c7de452ea50cb1c1539a 2026-07-04 official
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36 U.S.C. § 170308 - 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 or officer as such may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation.

(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 charter granted by this chapter or on dissolution or final liquidation of the corporation. This subsection does not prevent the payment of compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the board of directors.

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

(e) Claim of Governmental Approval or Authorization.— 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. 1443.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 170308(a)36:3608(c).Oct. 7, 1985, Pub. L. 99119, § 8, 99 Stat. 499. 170308(b)36:3608(d). 170308(c)36:3608(a). 170308(d)36:3608(b). 170308(e)36:3608(e). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “as such” are substituted for “acting as such” for consistency in the revised title. In subsection (c), the words “inure to the benefit of” are substituted for “inure to”, and the words “rendered to the corporation” are omitted, for consistency in the revised title.