Title 36 — Patriotic and National Observances, Ceremonies, and Organizations
Part B · Chapter 2201 — United Service Organizations, Incorporated
§ 220108. Restrictions
Statutory text
Profit.—
The corporation may not engage in business activity for profit unless the activity is substantially related to—
the purposes stated in section 220102 of this title; or
raising funds to accomplish those purposes.
Stock and Dividends.—
The corporation may not issue stock or declare or pay a dividend.
Political Activities.—
The corporation shall be nonpolitical and may not provide financial aid or assistance to, or otherwise promote the candidacy of, an individual seeking elective public office. A substantial part of the activities of the corporation may not involve carrying on propaganda or otherwise attempting to influence legislation.
Distribution of Income or Assets.—
The income or assets of the corporation may not inure to the benefit of a governor, officer, member, or employee or be distributed to any person 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, employee, or other person or reimbursement for actual necessary expenses in amounts approved by the board of governors.
Loans.—
The corporation may not make a loan to a governor, officer, member, or employee.
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. § 220108
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1461.)
Source evidence
Code source credit
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1461.)
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) |
| 220108(a) | 36:1304(b) (last sentence). | Dec. 29, 1979, Pub. L. 96–165, § 4(a), (b), (d), (e), 93 Stat. 1269, 1270. |
| 220108(b) | 36:1304(b) (1st sentence). | |
| 220108(c) | 36:1304(a). | |
| 220108(d) | 36:1304(d). | |
| 220108(e) | 36:1304(e). | |
In subsection (a), before clause (1), the word “pecuniary” is omitted as unnecessary.
In subsection (b), the words “any shares of capital” are 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.