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Title 36 — Patriotic and National ObservancesRelease 119-73

§170106 Restrictions

Title 36 › Subtitle Subtitle II— - Patriotic and National Organizations › Part Part B— - Organizations › Chapter CHAPTER 1701— - PARALYZED VETERANS OF AMERICA › § 170106

Last updated Apr 6, 2026|Official source

Summary

Must not try to make a profit, sell stock, or take part in political campaigns or promote anyone running for public office. The corporation’s money or property cannot be used for the personal benefit of directors, officers, members, or employees while it exists or when it ends. The board may approve reasonable pay and reimbursements for actual necessary expenses. The corporation may not lend money to those people; any director who votes for such a loan, and any officer who helps make it, are each responsible—both together and on their own—for repaying the loan until it is paid back.

Full Legal Text

Title 36, §170106

Patriotic and National Observances — Source: USLM XML via OLRC

(a)The corporation may not engage in business for profit.
(b)The corporation may not issue stock.
(c)The corporation shall be nonpolitical and may not provide financial aid to, or otherwise promote the candidacy of, an individual seeking public office.
(d)The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, member, or employee 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 or employee or reimbursement for actual necessary expenses in amounts approved by the board of directors.
(e)The corporation may not make a loan to a director, officer, member, or employee. Directors who vote for or assent to making such a loan, 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) 170106(a), (b)36:1155.Aug. 11, 1971, Pub. L. 92–93, §§ 5, 6, 14, 85 Stat. 318, 319. 170106(c)36:1156. 170106(d)36:1164(a). 170106(e)36:1164(b). In subsection (a), the words “pecuniary” and “or gain” are omitted as unnecessary. In subsection (b), the word “capital” is omitted as unnecessary. In subsection (c), the words “as an organization” are omitted as unnecessary. In subsection (d), 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. § 170106

Title 36 — Patriotic and National Observances

Last Updated

Apr 6, 2026

Release point: 119-73