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

Terms Used In 36 USC 120106

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
  • State: means a State, the District of Columbia, the Commonwealth of Puerto Rico, or any other territory or possession of the United States. See 1 USC 7

(b) Political Activities.—The corporation, or a director or officer of the corporation as such, may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation.

(c) Loan.—The corporation may not make a loan to a director, officer, or employee of the corporation.

(d) Claim of Governmental Approval or Authority.—The corporation may not claim congressional approval, or the authority of the United States, for any activity of the corporation.

(e) Corporate Status.—The corporation shall maintain its status as a corporation incorporated under the laws of the State of New York.

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