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Title 36 — Patriotic and National ObservancesRelease 119-73

§110305 Restrictions

Title 36 › Subtitle Subtitle II— - Patriotic and National Organizations › Part Part B— - Organizations › Chapter CHAPTER 1103— - JEWISH WAR VETERANS, U.S.A., NATIONAL MEMORIAL, INCORPORATED › § 110305

Last updated Apr 6, 2026|Official source

Summary

The corporation cannot issue stock or pay dividends. It also cannot give money or help to a political party or a candidate. The corporation’s income and assets cannot be used for a director’s or officer’s personal benefit, but the executive committee can approve pay for officers and employees. The corporation cannot lend money to its directors, officers, or employees. If directors approve such a loan or officers help make it, those people are each fully responsible for repaying the loan until it is paid back.

Full Legal Text

Title 36, §110305

Patriotic and National Observances — Source: USLM XML via OLRC

(a)The corporation may not issue stock or declare or pay a dividend.
(b)The corporation or a director or officer as such may not contribute to, support, or assist a political party or candidate for public office.
(c)The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director or officer. This subsection does not prevent the payment of compensation to an officer or employee in an amount approved by the executive committee of the corporation.
(d)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.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 110305(a)36:921.Sept. 2, 1958, Pub. L. 85–903, §§ 8, 9, 11, 72 Stat. 1740. 110305(b)36:919. 110305(c)36:918(a). 110305(d)36:918(b). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the word “otherwise” is omitted as unnecessary. In subsection (c), 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 section, however, shall be construed to prevent” for consistency in the revised title and to eliminate unnecessary words.

Reference

Citations & Metadata

Citation

36 U.S.C. § 110305

Title 36 — Patriotic and National Observances

Last Updated

Apr 6, 2026

Release point: 119-73