2017 US Code
Title 36 - Patriotic and National Observances, Ceremonies, and Organizations
Subtitle II - Patriotic and National Organizations
Part B - Organizations
Chapter 1545 - Navy Wives Clubs of America
Sec. 154507 - Restrictions
| 36 U.S.C. § 154507 (2017) | ||||||||||||||||||
| §154507. Restrictions | ||||||||||||||||||
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(a) Stock and Dividends.—The corporation may not issue stock or declare or pay a dividend. (b) Political Activities.—The corporation or a director or officer as such may not contribute to, support, or participate in any political activity or attempt to influence legislation. (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 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 reimbursement for actual necessary expenses in amounts approved by the board of directors. (d) Loans.—The corporation may not make a loan to a director, officer, or employee. (e) 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. |
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(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1436.) |
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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. |
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| United States Code, 2012 Edition, Supplement 5, Title 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS | ||||||||||||||||||
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| United States Code | ||||||||||||||||||
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| Title 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS Subtitle II - Patriotic and National Organizations Part B - Organizations CHAPTER 1545 - NAVY WIVES CLUBS OF AMERICA Sec. 154507 - Restrictions |
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| section 154507 | ||||||||||||||||||
| 2017 | ||||||||||||||||||
| January 12, 2018 | ||||||||||||||||||
| Yes | ||||||||||||||||||
| standard | ||||||||||||||||||
| 98 Stat. 2429 112 Stat. 1436 |
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| Public Law 98-520, Public Law 105-225 |
