Title 36 — Patriotic and National ObservancesRelease 119-73
§21007 Restrictions
Title 36 › Subtitle Subtitle II— - Patriotic and National Organizations › Part Part B— - Organizations › Chapter CHAPTER 210— - AMERICAN GI FORUM OF THE UNITED STATES › § 21007
Summary
The corporation must not issue stock, pay dividends, make loans to insiders, or claim approval from Congress or the U.S. Government. While its charter lasts, its income and assets must not benefit directors, officers, or members, except for board‑approved reasonable pay and reimbursement of actual necessary expenses.
Full Legal Text
Title 36, §21007
Patriotic and National Observances — Source: USLM XML via OLRC
(a)The corporation may not issue stock or declare or pay a dividend.
(b)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 charter granted by this chapter. 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.
(c)The corporation may not make a loan to a director, officer, employee, or member.
(d)The corporation may not claim congressional approval or the authority of the United States Government for any of its activities.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 21007(a)36 App.:5908(c).Aug. 13, 1998, Pub. L. 105–231, § 8(a)–(d), 112 Stat. 1531. 21007(b)36 App.:5908(a). 21007(c)36 App.:5908(b). 21007(d)36 App.:5908(d). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “This subsection does not” are substituted for “Nothing in this subsection may be construed to” for consistency in the revised title. In subsection (d), the words “by virtue of this chapter” are omitted as unnecessary.
Reference
Citations & Metadata
Citation
36 U.S.C. § 21007
Title 36 — Patriotic and National Observances
Last Updated
Apr 6, 2026
Release point: 119-73