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Title 36 — Patriotic and National ObservancesRelease 119-73not60

§152507 Restrictions

Title 36 › Subtitle Subtitle II— Patriotic and National Organizations › Part B— Organizations › Chapter 1525— NATIONAL SAFETY COUNCIL › § 152507

Last updated Apr 5, 2026|Official source

Summary

Corporation must not issue stock or pay dividends. The corporation and leaders (directors, officers, agents) must not give money or help political parties or candidates. Corporate assets cannot benefit leaders or members except on dissolution or final liquidation; board may approve officer pay. No loans to leaders or employees; those who approve or help are responsible until repaid.

Full Legal Text

Title 36, §152507

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, officer, or agent as such may not contribute to, support, or assist a political party or candidate for public office.
(c)The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member except on dissolution or final liquidation of the corporation. This subsection does not prevent the payment of compensation to an officer in an amount approved by the board of directors.
(d)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) 152507(a)36:473.Aug. 13, 1953, ch. 429, §§ 10, 11, 13, 67 Stat. 572, 573. 152507(b)36:471. 152507(c)36:470(a). 152507(d)36:470(b). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the word “public” is added 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. The words “as provided in section 476 of this title” are omitted as unnecessary. The words “This subsection does not prevent” are substituted for “Nothing in this subsection, however, shall be construed to prevent” to eliminate unnecessary words. The words “board of directors” are substituted for “executive committee” because the source provisions for this chapter do not mention an executive committee and, under section 152504 of this title, the governing body of the corporation is the board of directors.

Reference

Citations & Metadata

Citation

36 U.S.C. § 152507

Title 36 — Patriotic and National Observances

Last Updated

Apr 5, 2026

Release point: 119-73not60