Title 36 — Patriotic and National Observances, Ceremonies, and Organizations
Part B · Chapter 2003 — Sons of Union Veterans of the Civil War
§ 200307. Restrictions
Statutory text
Stock and Dividends.—
The corporation may not issue stock or declare or pay a dividend.
Political Activities.—
The corporation or an officer or agent as such may not contribute to, support, or assist a political party or candidate for public office.
Distribution of Income or Assets.—
The income or assets of the corporation may not inure to the benefit of, or be distributed to, an officer or member during the life of the corporation or on its dissolution or final liquidation. This subsection does not prevent the payment of compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the council of administration of the corporation.
Loans.—
The corporation may not make a loan or advance to an officer or employee. Members of the council of administration who vote for or assent to making a loan or advance to an officer or employee, 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.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 105–225 · 112 Stat. 1253
Enacted · 36 U.S.C. § 200307
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1454.)
Source evidence
Code source credit
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1454.)
0 of 1 references resolved to an enrolled provision · 1 partial
Notes
historicalAndRevision
| Historical and Revision Notes | ||
|---|---|---|
| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| 200307(a) | 36:543. | Aug. 20, 1954, ch. 774, §§ 10, 11, 13, 68 Stat. 751. |
| 200307(b) | 36:541. | |
| 200307(c) | 36:540(a). | |
| 200307(d) | 36:540(b). | |
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. The words “This subsection does not prevent” are substituted for “Nothing in this subsection, however, shall be construed to prevent” for consistency in the revised title and to eliminate unnecessary words.
In subsection (d), the words “or advance” are added in 2 places for consistency in the subsection.