§23106 Restrictions

Summary

Stops the corporation and its leaders from using the group's money or power for private or political gain. The corporation may not sell stock or pay dividends. It may not give money, help, or support to a political party or someone running for office. The corporation’s income and assets cannot go to trustees, officers, employees, members of the nominating board, or members while the group exists or when it ends, except that the board can approve reasonable pay for officers or employees. The corporation may not make loans or advances to those same people. Trustees or officers who approve or make such a loan are personally responsible together until it is repaid. No part of the main amount or interest from a fund named in section 23102(1) may be given to an organization if a large part of its work is propaganda or trying to influence laws, or if any of its profits go to a private person.