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Title 36 — Patriotic and National ObservancesRelease 119-73not60

§210308 Restrictions

Title 36 › Subtitle Subtitle II— Patriotic and National Organizations › Part B— Organizations › Chapter 2103— 369TH VETERANS’ ASSOCIATION › § 210308

Last updated Apr 5, 2026|Official source

Summary

The corporation cannot issue stock, declare or pay dividends, take part in political activities, try to influence laws, or say it has Congress’s or the U.S. Government’s approval. Its money and property cannot be given to or benefit a director, officer, or member while the charter is in effect. The corporation also must not lend money to a director, officer, or employee, but it may pay reasonable wages to an officer and reimburse actual necessary expenses if the board of directors approves those amounts.

Full Legal Text

Title 36, §210308

Patriotic and National Observances — Source: USLM XML via OLRC

(a)The corporation may not issue stock or declare or pay a dividend.
(b)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)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)The corporation may not make a loan to a director, officer, or employee.
(e)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

Apr 5, 2026

Release point: 119-73not60