1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 55 - NATIONAL ACADEMY OF PUBLIC ADMINISTRATION
Sec. 2308 - Restrictions

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Metadata
Publication TitleUnited States Code, 1994 Edition, Supplement 1, Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 55 - NATIONAL ACADEMY OF PUBLIC ADMINISTRATION
Sec. 2308 - Restrictions
Containssection 2308
Date1995
Laws in Effect as of DateJanuary 16, 1996
Positive LawNo
Dispositionstandard
Source CreditPub. L. 98-257, §8, Apr. 10, 1984, 98 Stat. 128.
Statutes at Large Reference98 Stat. 128
Public Law ReferencePublic 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) Loans

The Academy shall not make any loan to any officer, director, or employee of the corporation.

(c) Political activities

The 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; dividends

The Academy shall have no power to issue any shares of stock nor to declare or pay any dividends.

(e) Claim of approval or authorization

The 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 laws

The 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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