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Title 36 — Patriotic and National ObservancesRelease 119-73

§140506 Restrictions

Title 36 › Subtitle Subtitle II— - Patriotic and National Organizations › Part Part B— - Organizations › Chapter CHAPTER 1405— - MILITARY ORDER OF THE PURPLE HEART OF THE UNITED STATES OF AMERICA, INCORPORATED › § 140506

Last updated Apr 6, 2026|Official source

Summary

The corporation must not issue stock or pay dividends. It cannot support political parties or candidates. Its assets and income cannot benefit directors, officers, or members except if the corporation is dissolved or finally liquidated; an officer’s pay needs executive committee approval. The corporation cannot loan to its directors, officers, or employees, and anyone who approves or participates must repay it.

Full Legal Text

Title 36, §140506

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, officer, or member except on dissolution or final liquidation of the corporation. This subsection does not prevent the payment of compensation to an officer 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) 140506(a)36:832.Aug. 26, 1958, Pub. L. 85–761, §§ 9, 10, 12, 72 Stat. 858. 140506(b)36:830. 140506(c)36:829(a). 140506(d)36:829(b). In subsection (a), the words “any shares of” are 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 “as provided in section 835 of this title” are omitted as unnecessary.

Reference

Citations & Metadata

Citation

36 U.S.C. § 140506

Title 36 — Patriotic and National Observances

Last Updated

Apr 6, 2026

Release point: 119-73