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Title 36 — Patriotic and National ObservancesRelease 119-73

§20106 Restrictions

Title 36 › Subtitle Subtitle II— - Patriotic and National Organizations › Part Part B— - Organizations › Chapter CHAPTER 201— - AGRICULTURAL HALL OF FAME › § 20106

Last updated Apr 6, 2026|Official source

Summary

The corporation cannot sell stock, pay dividends, or give money or help to a political party or a candidate. Its income and assets cannot go to a governor, officer, or member while it exists or when it closes, except for pay the board approves. It cannot make loans to those people, and anyone who approves or makes such a loan must repay it. Money from the fund in section 20102(1) cannot be given to groups that mainly do propaganda or try to influence laws, or that let any net earnings go to a private shareholder or individual.

Full Legal Text

Title 36, §20106

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 governor, officer, employee, or member 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 governor, officer, or member as such during the life of the corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of compensation to an officer or employee in an amount approved by the board of governors.
(d)The corporation may not make a loan or advance to a governor, officer, employee, or member. Governors who vote for or assent to making a loan or advance to a governor, officer, employee, or member, and officers who participate in making the loan or advance, are jointly and severally liable to the corporation for the amount of the loan or advance until it is repaid.
(e)None of the principal or interest of a fund referred to in section 20102(1) of this title may be contributed to an organization if—
(1)a substantial part of its activities is carrying on propaganda or attempting to influence legislation; or
(2)any part of its net earnings benefits a private shareholder or individual.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 20106(a)36:982.Aug. 31, 1960, Pub. L. 86–680, §§ 3(A) (1st sentence proviso), 9, 10, 12, 74 Stat. 573, 575, 576. 20106(b)36:980. 20106(c)36:979(a). 20106(d)36:979(b). 20106(e)36:973(A) (proviso). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (d), the words “or advance” are added in 2 places for consistency in the subsection.

Reference

Citations & Metadata

Citation

36 U.S.C. § 20106

Title 36 — Patriotic and National Observances

Last Updated

Apr 6, 2026

Release point: 119-73