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Title 36 — Patriotic and National ObservancesRelease 119-73

§230307 Restrictions

Title 36 › Subtitle Subtitle II— - Patriotic and National Organizations › Part Part B— - Organizations › Chapter CHAPTER 2303— - VETERANS OF WORLD WAR I OF THE UNITED STATES OF AMERICA, INCORPORATED › § 230307

Last updated Apr 6, 2026|Official source

Summary

The corporation must not issue stock, pay dividends, or give money to political parties or candidates. Its assets and income cannot go to officers or members while it exists or when it ends, except the board can approve pay and reimbursement for actual necessary expenses. Loans to officers or employees are forbidden; any board member who approves a loan and any officer who helps must each repay it.

Full Legal Text

Title 36, §230307

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 an officer or agent 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, an officer or member 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 reimbursement for actual necessary expenses in amounts approved by the board of administration of the corporation.
(d)The corporation may not make a loan or advance to an officer or employee. Members of the board of administration who vote for or assent to making a loan or advance to an officer or employee, 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.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 230307(a)36:773.July 18, 1958, Pub. L. 85–530, §§ 10, 11, 13, 72 Stat. 373, 374. 230307(b)36:771. 230307(c)36:770(a). 230307(d)36:770(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 “This subsection does not” are substituted for “Nothing in this subsection, however, shall be construed to” for consistency in the revised title and to eliminate unnecessary words. 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. § 230307

Title 36 — Patriotic and National Observances

Last Updated

Apr 6, 2026

Release point: 119-73