
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: 36USC30307]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
                CHAPTER 303--BLINDED VETERANS ASSOCIATION
 
Sec. 30307. Restrictions

    (a) Stock and Dividends.--The corporation may not issue stock or 
declare or pay a dividend.
    (b) Political Activities.--The corporation or a director or officer 
as such may not contribute to, support, or assist a political party or 
candidate for elective 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, a 
director, officer, or member as such during the life of the corporation 
or on its dissolution or final liquidation. This section does not 
prevent the payment of--
        (1) bona fide expenses of officers of the corporation in amounts 
    approved by the board of directors; or
        (2) appropriate aid to blinded veterans or their widows or 
    children in carrying out the purposes of the corporation.

    (d) Loans.--The corporation may not make a loan to a director, 
officer, or employee. Directors and officers who vote for or assent to 
making a loan to a director, officer, or employee, and officers who 
participate in making the loan, are jointly and severally liable to the 
corporation for the amount of the loan until it is repaid.
    (e) Immunity From Liability.--Members and private individuals are 
not liable for the obligations of the corporation.

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1318.)

                                          Historical and Revision Notes
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---------------------------------
           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
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---------------------------------
30307(a)..............................  36:862.                          Aug. 2
7, 1958, Pub. L. 85-769, Secs.
                                                                          3(4) 
(words between 1st comma and
                                                                          semic
olon), 9, 10, 12, 72 Stat. 924,
                                                                          926.
30307(b)..............................  36:860.
30307(c)..............................  36:853(4) (words between 1st
                                         comma and semicolon).
                                        36:859(a) (1st sentence words
                                         before last comma, last
                                         sentence).
30307(d)..............................  36:859(b).
30307(e)..............................  36:859(a) (1st sentence words
                                         after last comma).
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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 
text of 36:853(4) (words between 1st comma and semicolon) is omitted as 
unnecessary.
