1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 16 - AMERICAN SOCIETY OF INTERNATIONAL LAW
Sec. 347 - Prohibition against issuance of stock, payment of dividends, or loans
View Metadata| Publication Title | United States Code, 1994 Edition, Supplement 1, Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES CHAPTER 16 - AMERICAN SOCIETY OF INTERNATIONAL LAW Sec. 347 - Prohibition against issuance of stock, payment of dividends, or loans |
| Contains | section 347 |
| Date | 1995 |
| Laws in Effect as of Date | January 16, 1996 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Sept. 20, 1950, ch. 958, §7, 64 Stat. 871. |
| Statutes at Large Reference | 64 Stat. 871 |
§347. Prohibition against issuance of stock, payment of dividends, or loans
The corporation shall not issue shares of stock, nor declare or pay dividends, nor make loans or advances to its officers or members of its executive council or any of them. Any member of its executive council who votes for or assents to the making of a loan or advance to an officer of the corporation or to a member of its executive council, and any officer or officers participating in the making of any such loan or advance, shall be jointly and severally liable to the corporation for the amount of such loan or advance until the repayment thereof.
(Sept. 20, 1950, ch. 958, §7, 64 Stat. 871.)
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