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Title 36, Patriotic and National ObservancesRelease 119-110

§30307 Restrictions

Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 303 — BLINDED VETERANS ASSOCIATION › § 30307

Last updated Sep 22, 2026|Official source

Summary

The corporation cannot issue stock or pay dividends. It and its directors or officers must not give money or support to a political party or a candidate. The corporation’s money or property cannot be given to or used for the personal benefit of directors, officers, or members while it exists or when it closes, except for legitimate officer expenses approved by the board and proper aid to blinded veterans or their widows or children to carry out the corporation’s work. The corporation may not lend money to a director, officer, or employee; anyone who approves or helps make such a loan is each fully responsible to the corporation for repaying it. Members and private people are not personally responsible for the corporation’s debts.

Full Legal Text

Title 36, §30307

Patriotic and National Observances, Source: USLM XML via OLRC

(a)Stock 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 assist a political party or candidate for elective public office.
(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 as such during the life of the corporation or on its dissolution or final liquidation. This section does not prevent the payment of— (1)
(2)appropriate aid to blinded veterans or their widows or children in carrying out the purposes of the corporation.
(d)Loans.—
The corporation may not make a loan to a director, officer, or employee. Directors and officers who vote for or assent to making a loan to a director, officer, or employee, and officers who participate in making the loan, are jointly and severally liable to the corporation for the amount of the loan until it is repaid.
(e)Immunity From Liability.—
Members and private individuals are not liable for the obligations of the corporation.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 30307(a)36:862.Aug. 27, 1958, Pub. L. 85–769, §§ 3(4) (words between 1st comma and semicolon), 9, 10, 12, 72 Stat. 924, 926. 30307(b)36:860. 30307(c)36:853(4) (words between 1st comma and semicolon). 36:859(a) (1st sentence words before last comma, last sentence). 30307(d)36:859(b). 30307(e)36:859(a) (1st sentence words after last comma). 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 text of 36:853(4) (words between 1st comma and semicolon) is omitted as unnecessary.

Reference

Citations & Metadata

Citation

36 U.S.C. § 30307

Title 36, Patriotic and National Observances

Last Updated

Sep 22, 2026

Release point: 119-110