
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: 36USC20207]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
              CHAPTER 202--AIR FORCE SERGEANTS ASSOCIATION
 
Sec. 20207. Restrictions

    (a) Stock and Dividends.--The corporation may not issue stock or 
declare or pay a dividend.
    (b) 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 during the life of the charter granted by 
this chapter. This subsection does not prevent the payment of reasonable 
compensation to an officer or employee or reimbursement for actual 
necessary expenses in amounts approved by the board of directors.
    (c) Loans.--The corporation may not make a loan to a director, 
officer, employee, or member.
    (d) Claim of Governmental Approval or Authority.--The corporation 
may not claim congressional approval or the authority of the United 
States Government for any of its activities.

(Added Pub. L. 105-354, Sec. 1(4)(A), Nov. 3, 1998, 112 Stat. 3241.)

                                          Historical and Revision Notes
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           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
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20207(a)..............................  36 App.:5808(c).                 Nov. 1
8, 1997, Pub. L. 105-85, title
                                                                          XV, S
ec.  1508(a)-(d), 111 Stat. 1964.
20207(b)..............................  36 App.:5808(a).
20207(c)..............................  36 App.:5808(b).
20207(d)..............................  36 App.:5808(d).
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    In subsection (a), the words ``any shares of'' are omitted as 
unnecessary.
    In subsection (b), the words ``This subsection does not'' are 
substituted for ``Nothing in this subsection may be construed to'' for 
consistency in the revised title.
    In subsection (d), the words ``by virtue of this chapter'' are 
omitted as unnecessary.
