1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 55 - NATIONAL ACADEMY OF PUBLIC ADMINISTRATION
Sec. 2308 - Restrictions
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 55 - NATIONAL ACADEMY OF PUBLIC ADMINISTRATION Sec. 2308 - Restrictions |
| Contains | section 2308 |
| Date | 1995 |
| Laws in Effect as of Date | January 16, 1996 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 98-257, §8, Apr. 10, 1984, 98 Stat. 128. |
| Statutes at Large Reference | 98 Stat. 128 |
| Public Law Reference | Public Law 98-257 |
§2308. Restrictions (a) Distribution of income or assets to members
No part of the income or assets of the corporation shall inure to any member, officer, or director of the Academy or be distributed to any such person during the life of this charter. Nothing in this subsection shall be construed to prevent the payment of reasonable compensation to the officers and members of the Academy or reimbursement for actual necessary expenses in amounts approved by the board of directors.
(b) LoansThe Academy shall not make any loan to any officer, director, or employee of the corporation.
(c) Political activitiesThe Academy and any officer and director of the corporation, acting as such officer or director, shall not contribute to, support, or otherwise participate in any political activity or in any manner attempt to influence legislation.
(d) Issuance of stock; dividendsThe Academy shall have no power to issue any shares of stock nor to declare or pay any dividends.
(e) Claim of approval or authorizationThe Academy shall not claim congressional approval or Federal Government authority for any of its activities, other than by mutual agreement.
(f) Retention of status under State lawsThe Academy shall retain and maintain its status as a corporation organized and incorporated under the laws of the District of Columbia.
(Pub. L. 98–257, §8, Apr. 10, 1984, 98 Stat. 128.)
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