Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
52 lines
2.1 KiB
Markdown
52 lines
2.1 KiB
Markdown
---
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type: "LegalText"
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title: "36 U.S.C. § 150409"
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description: "Restrictions"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 36
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title_name: "PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS"
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chapter_number: "1504"
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chapter_name: "NATIONAL AMERICAN INDIAN VETERANS, INCORPORATED"
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section: "150409"
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citation: "36 U.S.C. § 150409"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc36@119-100.zip"
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source_identifier: "/us/usc/t36/s150409"
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source_file: "data/legal/raw/us/code/title-36/usc36.xml"
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source_hash: "cd29f9e1b6464a16a1053d6e5a26a775319d2c26ce9927aa470dbc1852a78218"
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raw_snapshot_hash: "d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d"
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text_hash: "9b658a129b9ae76c0283bc091525dc1eb6d9924e989e08b3ade2bcbf605ad286"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 36 U.S.C. § 150409 - Restrictions
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## Text
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(a) Stock and Dividends.— The corporation may not—
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(1) issue any shares of stock; or
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(2) declare or pay any dividends.
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(b) Distribution of Income or Assets.— (1) In general.— The income or assets of the corporation may not—
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(A) inure to any person who is a member, officer, or director of the corporation; or
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(B) be distributed to any such person during the life of the charter granted by this chapter.
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(2) Effect.— Nothing in this subsection prevents the payment of reasonable compensation to the officers of the corporation, or reimbursement for actual and necessary expenses, in amounts approved by the board of directors.
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(c) Loans.— The corporation may not make any loan to any officer, director, member, or employee of the corporation.
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(d) No Federal Endorsement.— The corporation may not claim congressional approval or Federal Government authority by virtue of the charter granted by this chapter for any of the activities of the corporation.
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(Added Pub. L. 118–31, div. E, title LI, § 5103(a), Dec. 22, 2023, 137 Stat. 937.)
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