Us Code § 22105 - Restrictions

Full text of Us Code United States Code § 22105 — Restrictions, with citation guidance and answers to common questions.

§ 22105. Restrictions

(a) Profit.—The corporation may not operate for profit.

(b) Stock and Dividends.—The corporation may not issue stock or declare or pay a dividend.

(c) Political Activities.—The corporation or an officer or member of the executive council as such may not contribute to, support, or assist a political party or candidate for elective public office.

(d) Distribution of Income or Assets.—The income or assets of the corporation may not inure to the benefit of, or be distributed to, a member of the corporation or an officer or member of the executive council, except on the dissolution or final liquidation of the corporation.

(e) Loans.—The corporation may not make a loan or advance to an officer or member of the executive council. Members of the council who vote for or assent to making a loan or advance to an officer or member of the council, and officers who participate in making the loan or advance, are jointly and severally liable to the corporation for the amount of the loan or advance until it is repaid.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1301.)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
22105(a) 36:342 (2d sentence words before 1st comma). Sept. 20, 1950, ch. 958, §§2 (2d, last sentences), 7, 64 Stat. 870, 871.
22105(b) 36:347 (1st sentence words before 2d comma).  
22105(c) 36:342 (last sentence).  
22105(d) 36:342 (2d sentence words after 1st comma).  
22105(e) 36:347 (1st sentence words after 2d comma, last sentence).  

In subsection (b), the words "shares of" are omitted as unnecessary.

In subsection (d), the words "inure to the benefit of" are substituted for "inure to" for consistency in the revised title.

About This Section

36 U.S.C. § 22105 is part of Title 36 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.

This section may be cited in legal writing as 36 U.S.C. § 22105. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.

How to Read This Statute

Statutes are organized by title, chapter, section, and subsection. Pay attention to words like "shall," "may," "and," and "or," because they determine whether a requirement is mandatory or permissive and whether multiple conditions must all be met. Historical notes and amendments often appear at the end of a section.

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Sources

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Frequently Asked Questions About Us Code § 22105

What does United States Code § 22105 cover?

Section 22105 ("Restrictions") is part of the United States Code, the codified statutory law of Us Code. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Us Code § 22105?

A common citation format is "United States Code § 22105" (Us Code). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Us Code law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Us Code official source linked on this page or consult a licensed Us Code attorney.

How does Us Code § 22105 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Us Code can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Us Code.