2017 US Code
Title 36 - Patriotic and National Observances, Ceremonies, and Organizations
Subtitle II - Patriotic and National Organizations
Part B - Organizations
Chapter 1701 - Paralyzed Veterans of America
Sec. 170106 - Restrictions
36 U.S.C. § 170106 (2017) | |||||||||||||||
§170106. Restrictions | |||||||||||||||
(a) Profit.—The corporation may not engage in business for profit. (b) Stock.—The corporation may not issue stock. (c) Political Activities.—The corporation shall be nonpolitical and may not provide financial aid to, or otherwise promote the candidacy of, an individual seeking public office. (d) 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, member, or employee 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 or reimbursement for actual necessary expenses in amounts approved by the board of directors. (e) Loans.—The corporation may not make a loan to a director, officer, member, or employee. Directors who vote for or assent to making such a loan, and officers who participate in making the loan, are jointly and severally liable to the corporation for the amount of the loan until it is repaid. |
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(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1441.) |
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In subsection (a), the words "pecuniary" and "or gain" are omitted as unnecessary. In subsection (b), the word "capital" is omitted as unnecessary. In subsection (c), the words "as an organization" are omitted as unnecessary. In subsection (d), 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 | |||||||||||||||
Bills and Statutes | |||||||||||||||
United States Code | |||||||||||||||
Y 1.2/5: | |||||||||||||||
Title 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS Subtitle II - Patriotic and National Organizations Part B - Organizations CHAPTER 1701 - PARALYZED VETERANS OF AMERICA Sec. 170106 - Restrictions |
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section 170106 | |||||||||||||||
2017 | |||||||||||||||
January 12, 2018 | |||||||||||||||
Yes | |||||||||||||||
standard | |||||||||||||||
85 Stat. 318 112 Stat. 1441 |
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Public Law 92-93, Public Law 105-225 |