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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 36 U.S.C. § 30107 Restrictions us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 301 BIG BROTHERS—BIG SISTERS OF AMERICA 30107 36 U.S.C. § 30107 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/s30107 data/legal/raw/us/code/title-36/usc36.xml d136c72d9299ccf3b83a1955c70a75be2797a254c68fa709cc450cc2910c2b88 d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d db20c2f41c6897aa5c9825e00c1fd7fef5f802d34c628f6353ccfb2a520a7bc0 2026-07-04 official
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36 U.S.C. § 30107 - 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 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, a director, officer, or member as such 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 in an amount approved by the board of directors.

(d) Loans.— The corporation may not make a loan or advance to a director, officer, or employee. Directors who vote for or assent to making a loan or advance to a director, 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. 1315.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 30107(a)36:892.Sept. 2, 1958, Pub. L. 85870, §§ 9, 10, 12, 72 Stat. 1693, 1694. 30107(b)36:890. 30107(c)36:889(a). 30107(d)36:889(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. In subsection (d), the words “or advance” are added in 2 places for consistency in the subsection.