
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 36USC130107]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
         CHAPTER 1301--LADIES OF THE GRAND ARMY OF THE REPUBLIC
 
Sec. 130107. Restrictions

    (a) Stock and Dividends.--The corporation may not issue stock or 
declare or pay a dividend.
    (b) Political Activities.--The corporation or an officer or agent as 
such may not contribute to a political party or candidate for public 
office.
    (c) 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.
    (d) 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.

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1372.)

                                          Historical and Revision Notes
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           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
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---------------------------------
130107(a).............................  36:78k.                          June 1
7, 1959, Pub. L. 86-47, Secs.  9,
                                                                          10, 1
2, 73 Stat. 78, 79.
130107(b).............................  36:78i.
130107(c).............................  36:78h(a).
130107(d).............................  36:78h(b).
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    In subsection (a), the words ``any shares of'' are omitted as 
unnecessary.
    In subsections (c) and (d), the reference to the ``council of 
administration'' is retained although there is no council of 
administration created by 36:78e or 36:78f.
    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.
