36 U.S.C. § 70507 — Restrictions
submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 294 words · no verdicts yet
This section addresses restrictions. It sets the rules stated in the explanation.
(a) The corporation may not issue stock or pay dividends. (b)(1) Its activities, money, income, and property may not be used for political activity or influencing legislation. (2) The corporation and a director or officer acting for it may not contribute to, support, participate in political activity, or influence legislation. (c)(1) During the charter, income and assets may not benefit or be distributed to a director, officer, or member, but the board may approve reasonable compensation or reimbursement of business expenses for them. (2) This does not bar a grant to a Federal Bar Association chapter merely because a corporation officer, director, or member belongs to it, or reasonable employee compensation for corporate services. (d) No loan may go to a director, officer, member, or employee. (e) Members and private individuals are not liable for corporate obligations. (f) The corporation may not claim congressional approval or United States authority for activities, but may acknowledge this charter.
The corporation may not issue stock or declare or pay a dividend.
The activities, funds, income, and property of the corporation may not be used to carry on political activity or attempt to influence legislation.
The corporation or a director or officer in the corporate capacity of the director of 1 officer may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation.
The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member during the life of the charter granted by this chapter. This subsection does not prevent the payment, in amounts approved by the board of directors, of—
reasonable compensation; or
reimbursement for expenses incurred in undertaking the corporation’s business, to officers, directors, or members.
This subsection shall not be construed to—
prevent the award of a grant to a Federal Bar Association chapter of which an officer, director, or member may be a member; or
prevent the payment of reasonable compensation to the corporation’s employees for services undertaken on behalf of the corporation.
The corporation may not make a loan to a director, officer, member, or employee.
Members and private individuals are not liable for the obligations of the corporation.
The corporation—
may not claim congressional approval or the authority of the United States Government for any of its activities; and
may acknowledge this charter.
Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1353; Pub. L. 119–57, § 5, Dec. 12, 2025, 139 Stat. 711.)
- 1998Enacted · Pub. L. 105-225 · 112 Stat. 1353
- 2025Amended · Pub. L. 119-57 · 139 Stat. 711
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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