Title 36, Patriotic and National ObservancesRelease 119-110
§210308 Restrictions
Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 2103 — 369TH VETERANS’ ASSOCIATION › § 210308
Summary
The corporation must not issue stock, pay dividends, make loans to directors, officers, or employees, take part in politics or influence laws, or claim approval from Congress or the U.S. government. Its money and property must not benefit any director, officer, or member while the charter exists, but the board can approve reasonable officer pay and reimburse necessary expenses.
Full Legal Text
Title 36, §210308
Patriotic and National Observances, Source: USLM XML via OLRC
(a)Stocks and Dividends.—
The corporation may not issue stock or declare or pay a dividend.
(b)Political Activities.—
The corporation or a director or officer as such may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation.
(c)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 reimbursement for actual necessary expenses in amounts approved by the board of directors.
(d)Loans.—
The corporation may not make a loan to a director, officer, or employee.
(e)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) 21030836:3008.Oct. 30, 1984, Pub. L. 98–565, § 8, 98 Stat. 2921. In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (c), the words “inure to the benefit of” are substituted for “inure to” for consistency in the revised title. The words “This subsection does not prevent” are substituted for “Nothing in this subsection shall be construed to prevent” for consistency in the revised title.
Reference
Citations & Metadata
Citation
36 U.S.C. § 210308
Title 36, Patriotic and National Observances
Last Updated
Sep 22, 2026
Release point: 119-110