
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: 36USC70908]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
                 CHAPTER 709--FUTURE FARMERS OF AMERICA
 
Sec. 70908. 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, officer, 
or member 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, except on dissolution or final liquidation 
of the corporation.
    (d) Loans.--The corporation may not make a loan to a director, 
officer, or employee. Directors 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) Prizes, Awards, Grants, or Loans to Student Officers and Members 
Meeting Criteria.--This section does not preclude prizes, awards, 
grants, or loans to student officers and members meeting the criteria 
established by the board of directors for selecting recipients of those 
benefits.

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1358.)

                                          Historical and Revision Notes
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---------------------------------
           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
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---------------------------------
70908(a)..............................  36:282.                          Aug. 3
0, 1950, ch. 823, Secs.  9, 10,
                                                                          12, 6
4 Stat. 566.
70908(b)..............................  36:280.
70908(c)..............................  36:279(a).
70908(d)..............................  36:279(b).
70908(e)..............................  36:279(c).
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    In subsection (a), the words ``any shares or'' and ``its objects and 
purposes being solely educational'' are omitted as unnecessary and for 
consistency in the revised title.
    In subsection (c), the words ``inure to the benefit of'' are 
substituted for ``inure to'' for consistency in the revised title. The 
words ``as provided in section 285 of this title'' are omitted as 
unnecessary.
