Title 36 — Patriotic and National ObservancesRelease 119-73

§110107 Restrictions

Title 36 › Subtitle Subtitle II— - Patriotic and National Organizations › Part Part B— - Organizations › Chapter CHAPTER 1101— - JEWISH WAR VETERANS OF THE UNITED STATES OF AMERICA, INCORPORATED › § 110107

Last updated Apr 6, 2026|Official source

Summary

Corporation cannot issue stock or pay dividends. During the charter, its income or assets cannot benefit a director, officer, or member, except reasonable officer pay and approved repayment of actual necessary expenses. No loans to insiders or claim of U.S. government approval.

Full Legal Text

Title 36, §110107

Patriotic and National Observances — Source: USLM XML via OLRC

(a)The corporation may not issue stock or declare or pay a dividend.

(b)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 of reasonable compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the board of directors.

(c)The corporation may not make a loan to a director, officer, or employee.

(d)The corporation may not claim congressional approval or the authority of the United States Government for any of its activities.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 11010736:2708.Aug. 21, 1984, Pub. L. 98–391, § 8, 98 Stat. 1359. In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “inure to the benefit of” are substituted for “inure to” for consistency in the revised title. The words “This subsection does not prevent” are substituted for “Nothing in this subsection shall be construed to prevent” for consistency in the revised title and to eliminate unnecessary words.

Reference

Citations & Metadata

Citation

36 U.S.C. § 110107

Title 36 — Patriotic and National Observances

Last Updated

Apr 6, 2026

Release point: 119-73