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2011 US Code
Title 36 - Patriotic and National Observances, Ceremonies, Andorganizations
Subtitle II - Patriotic and National Organizations (§§ 10101 - 240112)
Part B - Organizations (§§ 20101 - 240112)
Chapter 210 - AMERICAN GI FORUM OF THE UNITED STATES (§§ 21001 - 21012)
Section 21007 - Restrictions

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Publication TitleUnited States Code, 2006 Edition, Supplement 5, Title 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, ANDORGANIZATIONS
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, ANDORGANIZATIONS
Subtitle II - Patriotic and National Organizations
Part B - Organizations
CHAPTER 210 - AMERICAN GI FORUM OF THE UNITED STATES
Sec. 21007 - Restrictions
Containssection 21007
Date2011
Laws in Effect as of DateJanuary 3, 2012
Positive LawYes
Dispositionstandard
Source CreditAdded Pub. L. 105-354, §1(5)(A), Nov. 3, 1998, 112 Stat. 3243.
Statutes at Large References112 Stat. 3243, 1531
Public Law ReferencesPublic Law 105-231, Public Law 105-354

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36 USC § 21007 (2011)
§21007. Restrictions

(a) Stock and Dividends.—The corporation may not issue stock or declare or pay a dividend.

(b) Distribution of Income or Assets.—The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member during the life of the charter granted by this chapter. This subsection does not prevent the payment of reasonable compensation to an officer or employee or reimbursement for actual necessary expenses in amounts approved by the board of directors.

(c) Loans.—The corporation may not make a loan to a director, officer, employee, or member.

(d) Claim of Governmental Approval or Authority.—The corporation may not claim congressional approval or the authority of the United States Government for any of its activities.

(Added Pub. L. 105–354, §1(5)(A), Nov. 3, 1998, 112 Stat. 3243.)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
21007(a) 36 App.:5908(c). Aug. 13, 1998, Pub. L. 105–231, §8(a)–(d), 112 Stat. 1531.
21007(b) 36 App.:5908(a).
21007(c) 36 App.:5908(b).
21007(d) 36 App.:5908(d).

In subsection (a), the words “any shares of” are omitted as unnecessary.

In subsection (b), the words “This subsection does not” are substituted for “Nothing in this subsection may be construed to” for consistency in the revised title.

In subsection (d), the words “by virtue of this chapter” are omitted as unnecessary.

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