---
kind: "section"
citation: "36 U.S.C. § 150409"
title: "36"
title_heading: "Patriotic and National Observances, Ceremonies, and Organizations"
number: "150409"
heading: "Restrictions"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/36/150409"
units:
  - "Subtitle II — Patriotic and National Organizations"
  - "Part B — Organizations"
  - "Chapter 1504 — National American Indian Veterans, Incorporated"
---

# §150409. Restrictions

- (a) **Stock and Dividends.—** The [corporation](/usc/36/220501.md?p=b-7) may not—
  - (1) issue any shares of stock; or
  - (2) declare or pay any dividends.
- (b) **Distribution of Income or Assets.—**
  - (1) **In general.—** The income or assets of the [corporation](/usc/36/220501.md?p=b-7) may not—
    - (A) inure to any person who is a member, officer, or director of the [corporation](/usc/36/220501.md?p=b-7); or
    - (B) be distributed to any such person during the life of the charter granted by this chapter.
  - (2) **Effect.—** Nothing in this subsection prevents the payment of reasonable compensation to the officers of the [corporation](/usc/36/220501.md?p=b-7), or reimbursement for actual and necessary expenses, in amounts approved by the board of directors.
- (c) **Loans.—** The [corporation](/usc/36/220501.md?p=b-7) may not make any loan to any officer, director, member, or employee of the [corporation](/usc/36/220501.md?p=b-7).
- (d) **No Federal Endorsement.—** The [corporation](/usc/36/220501.md?p=b-7) may not claim congressional approval or Federal Government authority by virtue of the charter granted by this chapter for any of the activities of the [corporation](/usc/36/220501.md?p=b-7).

## Source credit

(Added Pub. L. 118–31, div. E, title LI, § 5103(a), Dec. 22, 2023, 137 Stat. 937.)