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Title 36, Patriotic and National ObservancesRelease 119-110

§100107 Restrictions

Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 1001 — ITALIAN AMERICAN WAR VETERANS OF THE UNITED STATES › § 100107

Last updated Sep 22, 2026|Official source

Summary

The corporation cannot sell stock, declare or pay dividends, or make loans to its directors, officers, or employees. It may not take part in political campaigns or try to influence laws. Its income or assets cannot go to directors, officers, or members during the life of the charter, except for reasonable pay or expense reimbursement approved by the board. It also cannot claim congressional or U.S. Government approval for its activities.

Full Legal Text

Title 36, §100107

Patriotic and National Observances, Source: USLM XML via OLRC

(a)Stock and Dividends.—
The corporation may not issue stock or declare or pay a dividend.
(b)Political Activities.—
The corporation or a director or officer as such may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation.
(c)Distribution of Income or Assets.—
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 reimbursement for actual necessary expenses in amounts approved by the board of directors.
(d)Loans.—
The corporation may not make a loan to a director, officer, or employee.
(e)Claim of Governmental Approval or Authority.—
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) 100107(a)36:1708(d).Nov. 20, 1981, Pub. L. 97–82, § 8, 95 Stat. 1092. 100107(b)36:1708(c). 100107(c)36:1708(a). 100107(d)36:1708(b). 100107(e)36:1708(e). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “as such” are substituted for “acting as such officer or director” for consistency in the revised title. 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 shall be construed to” for consistency in the revised title and to eliminate unnecessary words.

Reference

Citations & Metadata

Citation

36 U.S.C. § 100107

Title 36, Patriotic and National Observances

Last Updated

Sep 22, 2026

Release point: 119-110