Title 36 — Patriotic and National ObservancesRelease 119-73not60
§140707 Restrictions
Title 36 › Subtitle Subtitle II— Patriotic and National Organizations › Part B— Organizations › Chapter 1407— MILITARY ORDER OF THE WORLD WARS › § 140707
Summary
The corporation cannot sell stock, pay dividends, give its money or property to its leaders, members, or staff while the charter lasts, or lend to them. It may pay reasonable wages to officers and repay necessary expenses if the board approves. It must not claim U.S. government approval.
Full Legal Text
Title 36, §140707
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 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, or employee.
(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) 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
Apr 5, 2026
Release point: 119-73not60