1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 68 - PEARL HARBOR SURVIVORS ASSOCIATION
Sec. 3608 - 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 68 - PEARL HARBOR SURVIVORS ASSOCIATION Sec. 3608 - Restrictions |
| Contains | section 3608 |
| Date | 1995 |
| Laws in Effect as of Date | January 16, 1996 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 99-119, §8, Oct. 7, 1985, 99 Stat. 499. |
| Statutes at Large Reference | 99 Stat. 499 |
| Public Law Reference | Public Law 99-119 |
§3608. 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 corporation or be distributed to any such person during the life of the corporation or upon its dissolution or final liquidation. Nothing in this subsection shall be construed to prevent the payment of compensation to the officers of the corporation for services rendered to the corporation or to prevent their reimbursement for actual necessary expenses in amounts approved by the board of directors.
(b) Loans; advancesThe corporation shall have no power to make loans or advances to any member, officer, director, or employee of the corporation.
(c) Issuance of stock; dividendsThe corporation shall have no power to issue any shares of stock or to declare or pay any dividends.
(d) Political activitiesThe corporation and its officers, employees, and agents acting as such shall have no power to contribute to, support, or otherwise participate in any political activity or in any manner attempt to influence legislation.
(e) Claim of approval or authorizationThe corporation shall have no power to claim congressional approval or Federal Government authority for any of its activities.
(Pub. L. 99–119, §8, Oct. 7, 1985, 99 Stat. 499.)
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