36 U.S.C. § 152307 — Restrictions
submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 156 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
The corporation may not engage in business for profit.
The corporation may not issue stock or declare or pay a dividend.
The corporation or a director, officer, or member as such may not contribute to, support, or assist a political party or candidate for elective public office.
The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member except on dissolution or final liquidation of the corporation.
The corporation may not make a loan to a director, officer, or employee. Directors 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.
Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1413.)
- 1998Enacted · Pub. L. 105-225 · 112 Stat. 1413
A history note hasn’t been published yet. The record shows enactment by Pub. L. 105-225 on 1998-08-12.
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