Title 36, Patriotic and National ObservancesRelease 119-110
§210106 Restrictions
Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 2101 — THEODORE ROOSEVELT ASSOCIATION › § 210106
Summary
Operate only for education; no stock or dividends; income or assets can't benefit members or anyone.
Full Legal Text
Title 36, §210106
Patriotic and National Observances, Source: USLM XML via OLRC
(a)Exclusively Educational Purposes.—
The corporation shall be operated exclusively for educational purposes.
(b)Stocks and Dividends.—
The corporation may not issue stock or declare or pay a dividend.
(c)Distributions of Income or Assets.—
The income or assets of the corporation may not inure to the benefit of any member or individual.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 21010636:4705.May 31, 1920, ch. 216, § 5, 41 Stat. 693. In subsection (a), the words “is organized and” are omitted as executed and obsolete. In subsection (b), the words “certificates of” are omitted as unnecessary. In subsection (c), the words “income or assets” are substituted for “earnings, income, or funds” for consistency in the revised title.
Reference
Citations & Metadata
Citation
36 U.S.C. § 210106
Title 36, Patriotic and National Observances
Last Updated
Sep 22, 2026
Release point: 119-110