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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. § 30307 Restrictions us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 303 BLINDED VETERANS ASSOCIATION 30307 36 U.S.C. § 30307 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/s30307 data/legal/raw/us/code/title-36/usc36.xml f760da34024350752dbdaac783a2950e380b36410f6678d571aa34ead1892364 d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d dc25aa2fb352be62bdee17fd2935e57e2db8b1cc03f89068c82ddee47516e197 2026-07-04 official
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36 U.S.C. § 30307 - 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 elective 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 section does not prevent the payment of—

(1) bona fide expenses of officers of the corporation in amounts approved by the board of directors; or

(2) appropriate aid to blinded veterans or their widows or children in carrying out the purposes of the corporation.

(d) Loans.— The corporation may not make a loan to a director, officer, or employee. Directors and officers who vote for or assent to making a loan to a director, officer, or employee, and officers who participate in making the loan, are jointly and severally liable to the corporation for the amount of the loan until it is repaid.

(e) Immunity From Liability.— Members and private individuals are not liable for the obligations of the corporation.

(Pub. L. 105225, Aug. 12, 1998, 112 Stat. 1318.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 30307(a)36:862.Aug. 27, 1958, Pub. L. 85769, §§ 3(4) (words between 1st comma and semicolon), 9, 10, 12, 72 Stat. 924, 926. 30307(b)36:860. 30307(c)36:853(4) (words between 1st comma and semicolon). 36:859(a) (1st sentence words before last comma, last sentence). 30307(d)36:859(b). 30307(e)36:859(a) (1st sentence words after last comma). 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 text of 36:853(4) (words between 1st comma and semicolon) is omitted as unnecessary.