1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 82 - MILITARY ORDER OF THE WORLD WARS
Sec. 5009 - Restrictions
View MetadataPublication 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 82 - MILITARY ORDER OF THE WORLD WARS Sec. 5009 - Restrictions |
Contains | section 5009 |
Date | 1995 |
Laws in Effect as of Date | January 16, 1996 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 102-484, div. A, title XVIII, §1809, Oct. 23, 1992, 106 Stat. 2582. |
Statutes at Large Reference | 106 Stat. 2582 |
Public Law Reference | Public Law 102-484 |
§5009. 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 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) Issuance of stock; dividendsThe corporation shall have no power to issue any shares of stock or to declare or pay any dividends.
(d) Claim of approval or authorizationThe corporation shall not claim congressional approval or the authorization of the Federal Government for any of its activities by virtue of this chapter.
(Pub. L. 102–484, div. A, title XVIII, §1809, Oct. 23, 1992, 106 Stat. 2582.)
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