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LegalText 36 U.S.C. § 150508 Restrictions us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 1505 NATIONAL CONFERENCE OF STATE SOCIETIES, WASHINGTON, DISTRICT OF COLUMBIA 150508 36 U.S.C. § 150508 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/s150508 data/legal/raw/us/code/title-36/usc36.xml fde34a1fb14b07d4992db39ee88ea42d277da5d00c14a69694599d38865b4360 d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d 4808b05abc873f7d2dfb0f17a7a124f5383e5758039bc3262c1621c5f0d389a8 2026-07-04 official
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36 U.S.C. § 150508 - Restrictions

Text

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

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

(c) Distribution of Income or Assets.— The income or assets of the corporation may not inure to the benefit of, or be distributed to, an officer or member except on dissolution or final liquidation of the corporation.

(d) Loans.— The corporation may not make a loan or advance to an officer or member of the board of representatives. Officers and members of the board who vote for or assent to making a loan or advance to an officer or member of the board, and officers or members of the board who participate in making the loan or advance, are jointly and severally liable to the corporation for the amount of the loan or advance until it is repaid.

(Pub. L. 105225, Aug. 12, 1998, 112 Stat. 1390.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 150508(a)36:414.Apr. 3, 1952, ch. 131, §§ 911, 14, 15, 66 Stat. 40. 150508(b)36:410.36:411. 150508(c)36:409. 150508(d)36:415. In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “The corporation may not” are substituted for “No part of the activities of the corporation shall consist of” to eliminate unnecessary words. In subsection (c), the words “inure to the benefit of” are substituted for “inure” for consistency in the revised title. The words “as provided in section 417 of this title” are omitted as unnecessary. In subsection (d), the words “or advance” are added in 2 places for consistency in the subsection.