{"identifier":"/us/usc/t36/s152307","title":36,"num":"\u00a7\u202f152307.","heading":"Restrictions","text":"\u00a7\u202f152307.\nRestrictions\n(a)\nProfit.\u2014\nThe corporation may not engage in business for profit.\n(b)\nStock and Dividends.\u2014\nThe corporation may not issue stock or declare or pay a dividend.\n(c)\nPolitical Activities.\u2014\nThe 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.\n(d)\nDistribution of Income or Assets.\u2014\nThe 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.\n(e)\nLoans.\u2014\nThe 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.","url":"https://projectusc.org/usc/t36/s152307.html","content":[{"t":"sec","id":"/us/usc/t36/s152307","children":[{"t":"num","text":"\u00a7\u202f152307."},{"t":"heading","text":"Restrictions"},{"t":"subsec","id":"/us/usc/t36/s152307/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Profit.\u2014"},{"t":"content","text":"The corporation may not engage in business for profit.","tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t36/s152307/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Stock and Dividends.\u2014"},{"t":"content","text":"The corporation may not issue stock or declare or pay a dividend.","tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t36/s152307/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Political Activities.\u2014"},{"t":"content","text":"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.","tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t36/s152307/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Distribution of Income or Assets.\u2014"},{"t":"content","text":"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.","tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t36/s152307/e","children":[{"t":"num","text":"(e)"},{"t":"heading","text":"Loans.\u2014"},{"t":"content","text":"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.","tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}