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Title 36, Patriotic and National ObservancesRelease 119-110

§150906 Restrictions

Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 1509 — NATIONAL COUNCIL ON RADIATION PROTECTION AND MEASUREMENTS › § 150906

Last updated Sep 22, 2026|Official source

Summary

The corporation must not sell stock or pay dividends. The corporation, or its directors, officers, or agents acting for it, must not give money, help, or support to a political party or a candidate. The corporation’s money or property cannot go to benefit a director, officer, or member while the corporation exists or when it is closed, except for reasonable pay to an officer if the board approves it. The corporation may not lend money to a director, officer, or employee. Any director who votes for or agrees to such a loan, and any officer who helps make it, is each responsible—both together and separately—for repaying the full loan amount to the corporation until it is paid back.

Full Legal Text

Title 36, §150906

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, officer, or agent as such may not contribute to, support, or assist a political party or candidate for office.
(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 corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of reasonable compensation to an officer in an amount approved by the board of directors.
(d)Loans.—
The corporation may not make a loan to a director, officer, or employee. Directors who vote for or assent to making a loan to a director, officer, or employee, and officers who participate in making the loan, are jointly and severally liable to the corporation for the amount of the loan until it is repaid.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 150906(a)36:4512.July 14, 1964, Pub. L. 88–376, §§ 9, 10, 12, 78 Stat. 322, 323. 150906(b)36:4510. 150906(c)36:4509(a). 150906(d)36:4509(b). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “duly appointed” 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.

Reference

Citations & Metadata

Citation

36 U.S.C. § 150906

Title 36, Patriotic and National Observances

Last Updated

Sep 22, 2026

Release point: 119-110