36 U.S.C. § 22105 — Restrictions
submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 183 words · no verdicts yet
(a) Profit.— The corporation cannot operate for profit. (b) Stock and Dividends.— The corporation cannot issue stock or declare or pay a dividend.
(a) Profit.— The corporation cannot operate for profit. (b) Stock and Dividends.— The corporation cannot issue stock or declare or pay a dividend. (c) Political Activities.— The corporation or an officer or member of the executive council as such cannot contribute to, support, or assist a political party or candidate for elective public office. (d) Distribution of Income or Assets.— The income or assets of the corporation cannot inure to the benefit of, or be distributed to, a member of the corporation or an officer or member of the executive council, except on the dissolution or final liquidation of the corporation. (e) Loans.— The corporation cannot make a loan or advance to an officer or member of the executive council. Members of the council who vote for or assent to making a loan or advance to an officer or member of the council, 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.
The corporation may not operate for profit.
The corporation may not issue stock or declare or pay a dividend.
The corporation or an officer or member of the executive council 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 member of the corporation or an officer or member of the executive council, except on the dissolution or final liquidation of the corporation.
The corporation may not make a loan or advance to an officer or member of the executive council. Members of the council who vote for or assent to making a loan or advance to an officer or member of the council, 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.
Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1301.)
- 1998Enacted · Pub. L. 105-225 · 112 Stat. 1301
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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