Title 36 — Patriotic and National ObservancesRelease 119-73not60
§154708 Restrictions
Title 36 › Subtitle Subtitle II— Patriotic and National Organizations › Part B— Organizations › Chapter 1547— NON COMMISSIONED OFFICERS ASSOCIATION OF THE UNITED STATES OF AMERICA, INCORPORATED › § 154708
Summary
The corporation cannot issue stock, pay dividends, use income or assets to benefit directors, officers, members, employees, make loans, or claim congressional or U.S. government approval; officers may receive reasonable, board‑approved pay and reimbursements.
Full Legal Text
Title 36, §154708
Patriotic and National Observances — Source: USLM XML via OLRC
(a)The corporation may not issue stock or declare or pay a dividend.
(b)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.
(c)The corporation may not make a loan to a director, officer, or employee.
(d)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) 15470836:4009.Apr. 6, 1988, Pub. L. 100–281, § 9, 102 Stat. 74. In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), 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. § 154708
Title 36 — Patriotic and National Observances
Last Updated
Apr 5, 2026
Release point: 119-73not60