1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 70 - VIETNAM VETERANS OF AMERICA, INC.
Sec. 3809 - 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 70 - VIETNAM VETERANS OF AMERICA, INC. Sec. 3809 - Restrictions |
| Contains | section 3809 |
| Date | 1995 |
| Laws in Effect as of Date | January 16, 1996 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 99-318, §9, May 23, 1986, 100 Stat. 475. |
| Statutes at Large Reference | 100 Stat. 475 |
| Public Law Reference | Public Law 99-318 |
§3809. Restrictions (a) Distribution of income or assets to members
No part of the income or assets of the corporation shall inure to any person who is a member, officer, or director of the corporation 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 of the corporation or reimbursement for actual necessary expenses in amounts approved by the board of directors.
(b) LoansThe corporation shall not make any loan to any officer, director, or employee of the corporation.
(c) Issuance of stock; dividendsThe corporation shall have no power to issue any shares of stock nor to declare or pay any dividends.
(d) Claim of approval or authorizationThe corporation shall not claim congressional approval or Federal Government authority by virtue of this chapter for any of its activities.
(Pub. L. 99–318, §9, May 23, 1986, 100 Stat. 475.)
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