36 U.S. Code § 154708 - Restrictions

(a) Stock and Dividends.— The corporation may not issue stock or declare or pay a dividend.
(b) 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 during the life of the charter granted by this chapter. This subsection does not prevent the payment of reasonable compensation to an officer or reimbursement for actual necessary expenses in amounts approved by the board of directors.
(c) Loans.— The corporation may not make a loan to a director, officer, or employee.
(d) Claim of Governmental Approval or Authority.— The corporation may not claim congressional approval or the authority of the United States Government for any of its activities.

Source

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1438.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
154708
36:4009.
Apr. 6, 1988, Pub. L. 100–281, § 9, 102 Stat. 74.

In subsection (a), the words “any shares of” are omitted as unnecessary.
In subsection (b), the words “inure to the benefit of” are substituted for “inure to” for consistency in the revised title.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.

36 USCDescription of ChangeSession YearPublic LawStatutes at Large

 

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