Title 36, Patriotic and National ObservancesRelease 119-110
§140707 Restrictions
Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 1407 — MILITARY ORDER OF THE WORLD WARS › § 140707
Summary
May not issue stock or pay dividends, or make loans to directors, officers, or employees. During the charter's life, income or assets may not go to directors, officers, or members, except for board‑approved reasonable pay or reimbursement for actual necessary expenses. May not claim congressional or U.S. Government approval or authority.
Full Legal Text
Title 36, §140707
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)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.
(c)Loans.—
The corporation may not make a loan to a director, officer, or employee.
(d)Claim of Governmental Approval or Authorization.—
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) 140707(a)36:5009(c).Oct. 23, 1992, Pub. L. 102–484, title XVIII, § 1809, 106 Stat. 2582. 140707(b)36:5009(a). 140707(c)36:5009(b). 140707(d)36:5009(d). In subsection (a), the words “any shares of” are omitted as unnecessary.
Reference
Citations & Metadata
Citation
36 U.S.C. § 140707
Title 36, Patriotic and National Observances
Last Updated
Sep 22, 2026
Release point: 119-110