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Title 36 — Patriotic and National ObservancesRelease 119-73not60

§152107 Restrictions

Title 36 › Subtitle Subtitle II— Patriotic and National Organizations › Part B— Organizations › Chapter 1521— NATIONAL MINING HALL OF FAME AND MUSEUM › § 152107

Last updated Apr 5, 2026|Official source

Summary

The corporation cannot issue stock or dividends, engage in politics or influence laws, lend to directors, officers, or employees, or claim Congress or U.S. Government authority. During the charter, its money or assets cannot benefit directors, officers, or members, except the board may approve reasonable compensation and reimbursement for actual necessary expenses.

Full Legal Text

Title 36, §152107

Patriotic and National Observances — Source: USLM XML via OLRC

(a)The corporation may not issue stock or declare or pay a dividend.
(b)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)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)The corporation may not make a loan to a director, officer, or employee.
(e)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) 152107(a)36:4107(d).Nov. 14, 1988, Pub. L. 100–655, § 107(a)–(e), 102 Stat. 3850. 152107(b)36:4107(c). 152107(c)36:4107(a). 152107(d)36:4107(b). 152107(e)36:4107(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.

Reference

Citations & Metadata

Citation

36 U.S.C. § 152107

Title 36 — Patriotic and National Observances

Last Updated

Apr 5, 2026

Release point: 119-73not60