1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 80 - 82ND AIRBORNE DIVISION ASSOCIATION, INC.
Sec. 4808 - 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 80 - 82ND AIRBORNE DIVISION ASSOCIATION, INC. Sec. 4808 - Restrictions |
| Contains | section 4808 |
| Date | 1995 |
| Laws in Effect as of Date | January 16, 1996 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 101-510, div. A, title XVI, §1608, Nov. 5, 1990, 104 Stat. 1737. |
| Statutes at Large Reference | 104 Stat. 1737 |
| Public Law Reference | Public Law 101-510 |
§4808. Restrictions (a) Distribution of income or assets to members
No part of the income or assets of the corporation may inure to the benefit of any member, officer, or director of the corporation or be distributed to any such individual 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 and necessary expenses in amounts approved by the board of directors.
(b) LoansThe corporation may not make any loan to any officer, director, or employee of the corporation.
(c) Political activitiesThe corporation 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 corporation shall have no power to issue any shares of stock nor to declare or pay any dividends.
(e) Claim of approval or authorizationThe corporation shall not claim congressional approval or Federal Government authority for any of its activities.
(Pub. L. 101–510, div. A, title XVI, §1608, Nov. 5, 1990, 104 Stat. 1737.)
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