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Title 36 — Patriotic and National ObservancesRelease 119-73not60

§30107 Restrictions

Title 36 › Subtitle Subtitle II— Patriotic and National Organizations › Part B— Organizations › Chapter 301— BIG BROTHERS—BIG SISTERS OF AMERICA › § 30107

Last updated Apr 5, 2026|Official source

Summary

The corporation must not issue stock or declare or pay any dividends. It also must not give money, help, or support to a political party or a candidate for public office. The corporation’s money and property cannot be used for the personal benefit of a director, officer, or member while the corporation exists or when it is closed, except the board can approve paying an officer compensation in an amount the board approves. The corporation must not make loans or advances to its directors, officers, or employees. Any director who votes for such a loan, or any officer who helps make it, is legally responsible—together and separately—for repaying the loan until it is fully repaid.

Full Legal Text

Title 36, §30107

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 assist a political party or candidate for public office.
(c)The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member as such during the life of the corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of compensation to an officer in an amount approved by the board of directors.
(d)The corporation may not make a loan or advance to a director, officer, or employee. Directors who vote for or assent to making a loan or advance to a director, officer, or employee, and officers who participate in making the loan or advance, are jointly and severally liable to the corporation for the amount of the loan or advance until it is repaid.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 30107(a)36:892.Sept. 2, 1958, Pub. L. 85–870, §§ 9, 10, 12, 72 Stat. 1693, 1694. 30107(b)36:890. 30107(c)36:889(a). 30107(d)36:889(b). 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. In subsection (d), the words “or advance” are added in 2 places for consistency in the subsection.

Reference

Citations & Metadata

Citation

36 U.S.C. § 30107

Title 36 — Patriotic and National Observances

Last Updated

Apr 5, 2026

Release point: 119-73not60