
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 36USC230307]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
 CHAPTER 2303--VETERANS OF WORLD WAR I OF THE UNITED STATES OF AMERICA, 
                              INCORPORATED
 
Sec. 230307. Restrictions

    (a) Stocks 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, support, or assist 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 board of administration of 
the corporation.
    (d) Loans.--The corporation may not make a loan or advance to an 
officer or employee. Members of the board 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. 1484.)

                                          Historical and Revision Notes
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---------------------------------
           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
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---------------------------------
230307(a).............................  36:773.                          July 1
8, 1958, Pub. L. 85-530, Secs.
                                                                          10, 1
1, 13, 72 Stat. 373, 374.
230307(b).............................  36:771.
230307(c).............................  36:770(a).
230307(d).............................  36:770(b).
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    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'' are substituted for ``Nothing in this 
subsection, however, shall be construed to'' 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.
