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Title 36, Patriotic and National ObservancesRelease 119-110

§21007 Restrictions

Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 210 — AMERICAN GI FORUM OF THE UNITED STATES › § 21007

Last updated Sep 22, 2026|Official source

Summary

The corporation must not issue stock or pay dividends. Its income and assets cannot go to or be given to any director, officer, or member while the charter lasts, except the board may approve reasonable pay for officers or employees and reimburse actual necessary expenses. The corporation must not lend money to its directors, officers, employees, or members. It also may not say it has Congress’s approval or the authority of the United States Government for its activities.

Full Legal Text

Title 36, §21007

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)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 employee or reimbursement for actual necessary expenses in amounts approved by the board of directors.
(c)Loans.—
The corporation may not make a loan to a director, officer, employee, or member.
(d)Claim of Governmental Approval or Authority.—
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) 21007(a)36 App.:5908(c).Aug. 13, 1998, Pub. L. 105–231, § 8(a)–(d), 112 Stat. 1531. 21007(b)36 App.:5908(a). 21007(c)36 App.:5908(b). 21007(d)36 App.:5908(d). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “This subsection does not” are substituted for “Nothing in this subsection may be construed to” for consistency in the revised title. In subsection (d), the words “by virtue of this chapter” are omitted as unnecessary.

Reference

Citations & Metadata

Citation

36 U.S.C. § 21007

Title 36, Patriotic and National Observances

Last Updated

Sep 22, 2026

Release point: 119-110