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Title 36, Patriotic and National ObservancesRelease 119-110

§150108 Restrictions

Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 1501 — NATIONAL ACADEMY OF PUBLIC ADMINISTRATION › § 150108

Last updated Sep 22, 2026|Official source

Summary

The corporation must not issue stock or pay dividends. It also may not take part in political campaigns or try to influence laws. The corporation’s money or property cannot be given to or used for directors, officers, or members, except they can be paid reasonable wages if the board approves. It may not lend money to directors, officers, or employees, and it cannot claim U.S. government or congressional approval unless there is an agreement.

Full Legal Text

Title 36, §150108

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 member in an amount 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 Authorization.—
Except by agreement, 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) 150108(a)36:2308(d).Apr. 10, 1984, Pub. L. 98–257, § 8(a)–(e), 98 Stat. 128. 150108(b)36:2308(c). 150108(c)36:2308(a). 150108(d)36:2308(b). 150108(e)36:2308(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. In subsection (e), the word “mutual” is omitted as unnecessary.

Reference

Citations & Metadata

Citation

36 U.S.C. § 150108

Title 36, Patriotic and National Observances

Last Updated

Sep 22, 2026

Release point: 119-110