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Title 36, Patriotic and National ObservancesRelease 119-110

§170106 Restrictions

Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 1701 — PARALYZED VETERANS OF AMERICA › § 170106

Last updated Sep 22, 2026|Official source

Summary

The corporation must not operate to make a profit, and it cannot issue stock. It must stay nonpolitical and may not give money or otherwise help someone who is running for public office. The corporation’s income and assets cannot go to directors, officers, members, or employees while it exists or when it is dissolved. The board of directors can approve reasonable pay and reimbursement for actual necessary expenses. The corporation may not lend money to those people, and any directors who approve such a loan or officers who take part in making it are personally responsible together for repaying the loan until it is paid back.

Full Legal Text

Title 36, §170106

Patriotic and National Observances, Source: USLM XML via OLRC

(a)Profit.—
The corporation may not engage in business for profit.
(b)Stock.—
The corporation may not issue stock.
(c)Political Activities.—
The corporation shall be nonpolitical and may not provide financial aid to, or otherwise promote the candidacy of, an individual seeking public office.
(d)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, member, or employee 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 or employee or reimbursement for actual necessary expenses in amounts approved by the board of directors.
(e)Loans.—
The corporation may not make a loan to a director, officer, member, or employee. Directors who vote for or assent to making such a loan, 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) 170106(a), (b)36:1155.Aug. 11, 1971, Pub. L. 92–93, §§ 5, 6, 14, 85 Stat. 318, 319. 170106(c)36:1156. 170106(d)36:1164(a). 170106(e)36:1164(b). In subsection (a), the words “pecuniary” and “or gain” are omitted as unnecessary. In subsection (b), the word “capital” is omitted as unnecessary. In subsection (c), the words “as an organization” are omitted as unnecessary. In subsection (d), 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. § 170106

Title 36, Patriotic and National Observances

Last Updated

Sep 22, 2026

Release point: 119-110