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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 231 - AVIATION HALL OF FAME (§§ 23101 - 23112)
Section 23106 - Restrictions

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Metadata
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 231 - AVIATION HALL OF FAME
Sec. 23106 - Restrictions
Containssection 23106
Date2011
Laws in Effect as of DateJanuary 3, 2012
Positive LawYes
Dispositionstandard
Source CreditPub. L. 105-225, Aug. 12, 1998, 112 Stat. 1313.
Statutes at Large References78 Stat. 314
112 Stat. 1313
Public Law ReferencesPublic Law 88-372, Public Law 105-225

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36 USC § 23106 (2011)
§23106. Restrictions

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

(b) Political Activities.—The corporation or a trustee, officer, employee, member of the board of nominations, or member of the corporation as such may not contribute to, support, or assist a political party or candidate for public office.

(c) Distribution of Income or Assets.—The income or assets of the corporation may not inure to the benefit of, or be distributed to, a trustee, officer, member of the board of nominations, or member of the corporation, as such, during the life of the corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of reasonable compensation to an officer or employee in an amount approved by the board of trustees.

(d) Loans.—The corporation may not make a loan or advance to a trustee, officer, employee, member of the board of nominations, or member of the corporation. Trustees who vote for or assent to making such a loan or advance, and officers who participate in making the loan or advance, are jointly and severally liable to the corporation for the amount of the loan or advance until it is repaid.

(e) Contributions to Certain Organizations.—None of the principal or interest of a fund referred to in section 23102(1) of this title may be contributed to an organization if—

(1) a substantial part of its activities is carrying on propaganda or attempting to influence legislation; or

(2) any part of its net earnings benefits a private shareholder or individual.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1313.)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
23106(a) 36:4313. July 14, 1964, Pub. L. 88–372, §§3(1) (1st sentence words after 8th comma), 10, 11, 13, 78 Stat. 314, 317.
23106(b) 36:4311.
23106(c) 36:4310(a).
23106(d) 36:4310(b).
23106(e) 36:4303(1) (1st sentence words after 8th comma).

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

In subsection (c), the words “inure to the benefit of” are substituted for “inure to” for consistency in the revised title.

In subsection (d), the words “or advance” are added in 2 places for consistency in the subsection.

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