2017 US Code
Title 36 - Patriotic and National Observances, Ceremonies, and Organizations
Subtitle II - Patriotic and National Organizations
Part B - Organizations
Chapter 227 - AMVETS (American Veterans)
Sec. 22707 - Restrictions
| 36 U.S.C. § 22707 (2017) | ||||||||||||||||||
| §22707. Restrictions | ||||||||||||||||||
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(a) Profit.—The corporation shall operate as a not-for-profit corporation, exclusively for charitable, educational, patriotic, and civic improvement purposes. (b) Stock and Dividends.—The corporation may not issue stock or declare or pay a dividend. (c) Political Activities.—The corporation or an officer of the corporation or member of its executive committee as such may not contribute to, support, or assist a political party or candidate for elective public office. The corporation may not carry on propaganda. (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, or member of the corporation, except on dissolution or final liquidation of the corporation. (e) Loans.—The corporation may not make a loan or advance to a director or officer. Directors who vote for or assent to making a loan or advance to a director or officer, 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. |
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(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1308.) |
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In subsection (b), the words "shares of" are omitted as unnecessary. In subsection (e), the words "or advance" are added in 2 places for consistency in the subsection. |
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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 227 - AMVETS (AMERICAN VETERANS) Sec. 22707 - Restrictions |
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| section 22707 | ||||||||||||||||||
| 2017 | ||||||||||||||||||
| January 12, 2018 | ||||||||||||||||||
| Yes | ||||||||||||||||||
| standard | ||||||||||||||||||
| 61 Stat. 405 112 Stat. 1308 |
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| Public Law 105-225 |
