
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: 36USC70507]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
       CHAPTER 705--THE FOUNDATION OF THE FEDERAL BAR ASSOCIATION
 
Sec. 70507. Restrictions

    (a) Stock and Dividends.--The corporation may not issue stock or 
declare or pay a dividend.
    (b) Political Activities.--(1) The activities, funds, income, and 
property of the corporation may not be used to carry on political 
activity or attempt to influence legislation.
    (2) 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.--The income of the corporation may not 
inure to the benefit of a director, officer, member, or private 
individual.
    (d) Loans.--The corporation may not make a loan or advance to a 
director or officer. Directors and officers who vote for, assent to, or 
participate in making a loan or advance to a director or officer are 
jointly and severally liable to the corporation for the amount of the 
loan or advance 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. 1353.)

                                          Historical and Revision Notes
-------------------------------------------------------------------------------
---------------------------------
           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
-------------------------------------------------------------------------------
---------------------------------
70507(a)..............................  36:582.                          Aug. 2
4, 1954, ch. 911, Secs.  9, 10,
                                                                          12, 6
8 Stat. 799.
70507(b)..............................  36:580.
70507(c)..............................  36:579(a) (words before last
                                         comma).
70507(d)..............................  36:579(b).
70507(e)..............................  36:579(a) (words after last
                                         comma).
-------------------------------------------------------------------------------
---------------------------------

    In subsection (a), the words ``any shares of'' are omitted as 
unnecessary.
    In subsection (b)(1), the words ``directly or indirectly'' are 
omitted as unnecessary.
    In subsection (c), the word ``income'' is substituted for ``net 
earnings'' for consistency in the revised title.
    In subsection (d), the words ``or advance'' are added in 2 places 
for consistency in the subsection.
