§ 152307. Restrictions

• (a) The corporation may not engage in business for profit.
• (b) The corporation may not issue stock or declare or pay a dividend.
• (c) 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.
• (d) 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.
• (e) 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.