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36 U.S.C. 210106: RestrictionsText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 36-PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONSCHAPTER 2101-THEODORE ROOSEVELT ASSOCIATION
Jump To: Source CreditHistorical and Revision Notes

§210106. Restrictions

(a)  Exclusively Educational Purposes.⁠—The corporation shall be operated exclusively for educational purposes.

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

(c)  Distributions of Income or Assets.⁠—The income or assets of the corporation may not inure to the benefit of any member or individual.

( Pub. L. 105–225 , Aug. 12, 1998 , 112 Stat. 1456 .)

Historical and Revision Notes

Revised

Section

Source (U.S. Code)

Source (Statutes at Large)

210106

36:4705.

May 31, 1920, ch. 216, § 5, 41 Stat. 693.

In subsection (a), the words “is organized and” are omitted as executed and obsolete.

In subsection (b), the words “certificates of” are omitted as unnecessary.

In subsection (c), the words “income or assets” are substituted for “earnings, income, or funds” for consistency in the revised title.