PRIA Logo™
Take the PRIA Score
Title 36 — Patriotic and National ObservancesRelease 119-73

§150906 Restrictions

Title 36 › Subtitle Subtitle II— - Patriotic and National Organizations › Part Part B— - Organizations › Chapter CHAPTER 1509— - NATIONAL COUNCIL ON RADIATION PROTECTION AND MEASUREMENTS › § 150906

Last updated Apr 6, 2026|Official source

Summary

Corporation cannot sell stock or pay dividends. It cannot support political parties or candidates. Its money and property cannot go to directors, officers, or members during its life or when it ends, except for reasonable officer pay approved by the board. It cannot lend to directors, officers, or employees; anyone who approved or helped such a loan must pay the corporation back.

Full Legal Text

Title 36, §150906

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, officer, or agent as such may not contribute to, support, or assist a political party or candidate for 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 during the life of the corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of reasonable compensation to an officer in an amount approved by the board of directors.
(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) 150906(a)36:4512.July 14, 1964, Pub. L. 88–376, §§ 9, 10, 12, 78 Stat. 322, 323. 150906(b)36:4510. 150906(c)36:4509(a). 150906(d)36:4509(b). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “duly appointed” 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.

Reference

Citations & Metadata

Citation

36 U.S.C. § 150906

Title 36 — Patriotic and National Observances

Last Updated

Apr 6, 2026

Release point: 119-73