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2026-07-06 10:51:44 -04:00

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LegalText 36 U.S.C. § 230307 Restrictions us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 2303 VETERANS OF WORLD WAR I OF THE UNITED STATES OF AMERICA, INCORPORATED 230307 36 U.S.C. § 230307 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/s230307 data/legal/raw/us/code/title-36/usc36.xml 0c86d8acad4b792d6b714b467a3ea74d0fb150a15f6df251414ac75633f64b72 d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d efe79a0aea11e63208b063b8039edf2d68f551a1b3570e5aee01b14d929cf842 2026-07-04 official
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36 U.S.C. § 230307 - Restrictions

Text

(a) Stocks 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 board of administration of the corporation.

(d) Loans.— The corporation may not make a loan or advance to an officer or employee. Members of the board 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. 1484.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 230307(a)36:773.July 18, 1958, Pub. L. 85530, §§ 10, 11, 13, 72 Stat. 373, 374. 230307(b)36:771. 230307(c)36:770(a). 230307(d)36:770(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” are substituted for “Nothing in this subsection, however, shall be construed to” 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.