36 U.S.C. § 120106 — Restrictions
submitted 18 years ago by Pub. L. 110-254 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 122 words · no verdicts yet
The corporation may not issue stock, pay dividends, engage in political activity or lobbying, make loans to its directors, officers, or employees, claim congressional or United States approval or authority, or stop being incorporated under New York law.
(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 acting in that role, may not contribute to, support, or participate in political activity or try in any way to influence legislation. (c) Loans.—The corporation may not make a loan to its director, officer, or employee. (d) Government approval or authority.—The corporation may not claim that Congress approved an activity or that the United States authorized it. (e) Corporate status.—The corporation must keep its status as a corporation incorporated under New York law.
The corporation may not issue stock or declare or pay a dividend.
The corporation, or a director or officer of the corporation as such, may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation.
The corporation may not make a loan to a director, officer, or employee of the corporation.
The corporation may not claim congressional approval, or the authority of the United States, for any activity of the corporation.
The corporation shall maintain its status as a corporation incorporated under the laws of the State* of New York.
Source credit: (Added Pub. L. 110–254, § 1(a)(2), June 30, 2008, 122 Stat. 2420.)
- 2008Enacted · Pub. L. 110-254 · 122 Stat. 2420
A history note hasn’t been published yet. The record shows enactment by Pub. L. 110-254 on 2008-06-30.
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