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LegalText 36 U.S.C. § 200307 Restrictions us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 2003 SONS OF UNION VETERANS OF THE CIVIL WAR 200307 36 U.S.C. § 200307 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/s200307 data/legal/raw/us/code/title-36/usc36.xml 0dd28c9e6ba863939784226c50c592f528d81ba2a42f32476dd33a1783873b71 d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d 811a6fd8d4aa32ad7199e8142d04b54c079162288caa7e802ab8f19164bceb76 2026-07-04 official
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36 U.S.C. § 200307 - 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 agent as such may not contribute to, support, or assist a political party or candidate for public office.

(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 during the life of the corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the council of administration of the corporation.

(d) Loans.— The corporation may not make a loan or advance to an officer or employee. Members of the council of administration who vote for or assent to making a loan or advance to an officer or employee, and officers 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. 1454.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 200307(a)36:543.Aug. 20, 1954, ch. 774, §§ 10, 11, 13, 68 Stat. 751. 200307(b)36:541. 200307(c)36:540(a). 200307(d)36:540(b). 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. The words “This subsection does not prevent” are substituted for “Nothing in this subsection, however, shall be construed to prevent” for consistency in the revised title and to eliminate unnecessary words. In subsection (d), the words “or advance” are added in 2 places for consistency in the subsection.