The corporation may not issue stock or pay a dividend
To amend title 36, United States Code, to revise the Federal charter for the Foundation of the Federal Bar Association, section 5, Sec. 5.
Written by .
The corporation may not issue stock or pay a dividend
The document says “may not”Who acts: Foundation of the Federal Bar AssociationHow: statuteSec. 5 in the PDF
What the document says
“``(a) Stock and Dividends.--The corporation may not issue stock or declare or pay a dividend.”
The section amends section 70507 of title 36, United States Code, to read as quoted across this record. The first subsection bars the corporation from issuing stock and from declaring or paying a dividend.
What the document actually says
“``(a) Stock and Dividends.--The corporation may not issue stock or declare or pay a dividend.”
That sentence, in plain words
The group may not sell shares in itself. It also may not pay out gains to anyone.
What this is about
A share is a slice of a firm that people buy. A gain is cash paid out to those who hold shares. This group is not that kind of firm.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The quotation is the document's own words, exactly as printed, and we check the page
number against the Act itself before publishing. The paragraph underneath is our summary,
not the document's words. So is the plain English version, which is why it sits beside the
quotation rather than replacing it.
