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LegalText 36 U.S.C. § 170507 Restrictions us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 1705 POLISH LEGION OF AMERICAN VETERANS, U.S.A. 170507 36 U.S.C. § 170507 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/s170507 data/legal/raw/us/code/title-36/usc36.xml edd964f18a5a936325e90aa1791adca84130cf1fd08c16709e62dd611e5d78bb d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d d1848656c105df78c43831ea29cceca6c49eee84e5e3d970f78c8be55e13df40 2026-07-04 official
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36 U.S.C. § 170507 - 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. This subsection does not prevent the payment of reasonable 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. 1445.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 170507(a)36:2508(d).July 23, 1984, Pub. L. 98372, § 8, 98 Stat. 1240. 170507(b)36:2508(c). 170507(c)36:2508(a). 170507(d)36:2508(b). 170507(e)36:2508(e). In subsection (a), the words “any shares of” 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.