Title 36 — Patriotic and National ObservancesRelease 119-73not60
§240107 Restrictions
Title 36 › Subtitle Subtitle II— Patriotic and National Organizations › Part B— Organizations › Chapter 2401— WOMEN’S ARMY CORPS VETERANS’ ASSOCIATION › § 240107
Summary
The corporation cannot create stock, pay dividends, engage in politics, or try to influence laws. While the charter lasts, its income or assets cannot benefit directors, officers, or members except for board-approved pay and repayment for necessary expenses. It cannot lend to insiders or claim U.S. government approval.
Full Legal Text
Title 36, §240107
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 otherwise 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 the 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) 240107(a)36:3108(d).Oct. 30, 1984, Pub. L. 98–584, § 8, 98 Stat. 3098. 240107(b)36:3108(c). 240107(c)36:3108(a). 240107(d)36:3108(b). 240107(e)36:3108(e). In subsection (a), the words “any shares of” are omitted as unnecessary. In subsection (b), the words “as such” are substituted for “thereof” for consistency in the revised title. In subsection (c), the words “inure to the benefit of” are substituted for “inure” 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 and to eliminate unnecessary words.
Reference
Citations & Metadata
Citation
36 U.S.C. § 240107
Title 36 — Patriotic and National Observances
Last Updated
Apr 5, 2026
Release point: 119-73not60