United States Code
USC most recently checked for updates: Jun 09, 2025
§ 30707.
Restrictions
(a)
The corporation may not engage in business for profit.
(b)
The corporation may not issue stock or declare or pay a dividend.
(c)
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.
(d)
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.
(e)
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.
cite as: 36 USC 30707