2017 US Code
Title 36 - Patriotic and National Observances, Ceremonies, and Organizations
Subtitle II - Patriotic and National Organizations
Part B - Organizations
Chapter 1903 - Retired Enlisted Association, Incorporated
Sec. 190308 - Restrictions
36 U.S.C. § 190308 (2017) | |||||||||||||||
§190308. 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 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, or employee. (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. |
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(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1450.) |
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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 shall 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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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 1903 - RETIRED ENLISTED ASSOCIATION, INCORPORATED Sec. 190308 - Restrictions |
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section 190308 | |||||||||||||||
2017 | |||||||||||||||
January 12, 2018 | |||||||||||||||
Yes | |||||||||||||||
standard | |||||||||||||||
106 Stat. 2585 112 Stat. 1450 |
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Public Law 102-484, Public Law 105-225 |