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Title 36, Patriotic and National ObservancesRelease 119-110

§151507 Restrictions

Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 1515 — NATIONAL FEDERATION OF MUSIC CLUBS › § 151507

Last updated Sep 22, 2026|Official source

Summary

The corporation cannot issue stock or pay dividends. It also cannot take part in political activities or try to influence laws, make loans to its directors, officers, or employees, or let its income or assets benefit those people while the charter is in effect. Officers may be paid reasonable salaries and be repaid necessary expenses if the board approves. The corporation cannot claim it has Congress’s or the U.S. Government’s approval or authority for its actions.

Full Legal Text

Title 36, §151507

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 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) 151507(a)36:2008(d).Aug. 9, 1982, Pub. L. 97–231, § 8(a)–(e), 96 Stat. 257. 151507(b)36:2008(c). 151507(c)36:2008(a). 151507(d)36:2008(b). 151507(e)36:2008(e). In subsection (a), the words “any shares of” 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. § 151507

Title 36, Patriotic and National Observances

Last Updated

Sep 22, 2026

Release point: 119-110