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36 U.S.C. · Patriotic and National Observances, Ceremonies, and Organizations
36 U.S.C. § 150409

Restrictions

Ch. 1504 — NATIONAL AMERICAN INDIAN VETERANS, INCORPORATED
Title 36 U.S.C. ● ACTIVE Primary Source Ch. 1504
Statutory Text

36 U.S.C. § 150409 — Restrictions

U.S.C. Title 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 36 U.S.C. United States Code, 2023 Edition Title 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS Subtitle II - Patriotic and National Organizations Part B - Organizations CHAPTER 1504 - NATIONAL AMERICAN INDIAN VETERANS, INCORPORATED Sec. 150409 - Restrictions From the U.S. Government Publishing Office, www.gpo.gov

§150409. Restrictions

(a) Stock and Dividends.—The corporation may not— (1) issue any shares of stock; or (2) declare or pay any dividends.

(b) Distribution of Income or Assets.— (1) In general.—The income or assets of the corporation may not— (A) inure to any person who is a member, officer, or director of the corporation; or (B) be distributed to any such person during the life of the charter granted by this chapter.

(2) Effect.—Nothing in this subsection prevents the payment of reasonable compensation to the officers of the corporation, or reimbursement for actual and necessary expenses, in amounts approved by the board of directors.

(c) Loans.—The corporation may not make any loan to any officer, director, member, or employee of the corporation. (d) No Federal Endorsement.—The corporation may not claim congressional approval or Federal Government authority by virtue of the charter granted by this chapter for any of the activities of the corporation.

(Added Pub. L. 118–31, div. E, title LI, §5103(a), Dec. 22, 2023, 137 Stat. 937.)

Source: uscode.house.gov — public domain Official Source ↗
Root-LD Entity Data
◈ Machine-Readable Provenance Record Root-LD v1.0 · boisestandard.org
Federation ID
BS-USC36-SEC-3F803F
Entity Class
STATUTE / FEDERAL-CODE-SECTION
Domain Signature
boisestandard.org
Citation
36 U.S.C. § 150409
Jurisdiction
Federal — United States
Status
✓ ACTIVE
Source
PRIMARY-SOURCE
Source Verified
✓ TRUE
Content Hash
27b272bd06acca47...
Semantic Edges
Pending — corpus passes queued
The statutory text of 36 U.S.C. § 150409 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 36 U.S.C. § 150408 36 U.S.C. § 150410 →
Ch. 1504 — NATIONAL AMERICAN INDIAN VETERANS, INCORPORATED
36 U.S.C. § 15040136 U.S.C. § 15040236 U.S.C. § 15040336 U.S.C. § 15040436 U.S.C. § 15040536 U.S.C. § 15040636 U.S.C. § 15040736 U.S.C. § 15040836 U.S.C. § 15040936 U.S.C. § 15041036 U.S.C. § 15041136 U.S.C. § 15041236 U.S.C. § 15041336 U.S.C. § 15041436 U.S.C. § 150415
36 U.S.C. — public domain ← All Legislation
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boisestandard.org → United States → Law → U.S. Code → Title 36 → 36 U.S.C. § 150409