36-U.S.C.-210106
§210106 – Restrictions
Pathway
Title 36 > Subtitle II > Part B > Chapter 2101 > Section 210106
Details
- Reference: Section 210106
- Legend: §210106 – Restrictions
- USCode Year: 2013
Provision Content
(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.)
| 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.
U.S. Encyclopedia of Law Coverage
36-U.S.C.-21009 in the Legal Encyclopedia: Patriotic Organizations
In this entry about 36-U.S.C.-21009, find legal reference material, bibliographies and premiere content related to patriotic organizations in the American Encyclopedia of Law, presenting a comprehensive view of the United States patriotic organizations-specific issues, written by authorities in the field.
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