
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: 36USC40506]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
 CHAPTER 405--CONGRESSIONAL MEDAL OF HONOR SOCIETY OF THE UNITED STATES 
                               OF AMERICA
 
Sec. 40506. 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 participate in any political 
activity or in any manner attempt to influence legislation.
    (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 subsection does not 
prevent the payment of--
        (1) expenses of officers of the corporation in amounts approved 
    by the board of directors; or
        (2) appropriate aid to individuals to whom the Medal of Honor 
    has been awarded, their widows, or their children, to carry 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.

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1334.)

                                          Historical and Revision Notes
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---------------------------------
           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
-------------------------------------------------------------------------------
---------------------------------
40506(a)..............................  36:802.                          Aug. 1
4, 1958, Pub. L. 85-642, Secs.
                                                                          9(a) 
(1st sentence words before last
                                                                          comma
, last sentence), (b), 10, 12, 72
                                                                          Stat.
 599, 600.
40506(b)..............................  36:800.
40506(c)..............................  36:799(a) (1st sentence words
                                         before last comma, last
                                         sentence).
40506(d)..............................  36:799(b).
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---------------------------------

    In subsection (a), the words ``any shares of'' are omitted as 
unnecessary.
    In subsection (b), the words ``support'' and ``any'' are added for 
consistency in the revised title. The words ``directly or indirectly, 
local or national'' are omitted as unnecessary and for consistency in 
the revised title.
    In subsection (c), before clause (1), the words ``inure to the 
benefit of'' are substituted for ``inure to'' for consistency in the 
revised title. In clause (1), the words ``bona fide'' are omitted as 
unnecessary.
