20 U.S.C. § 4419 — Nonprofit and nonpolitical nature of Institute

FEDERAL · 20 U.S.C. · Chapter 56

Nonprofit and nonpolitical nature of Institute

Current through Pub. L. 119-102

Title 20 — Education·Ch. 56 — AMERICAN INDIAN, ALASKA NATIVE, AND NATIVE HAWAIIAN CULTURE AND ART DEVELOPMENT·Subch. I

(a)Stock The Institute shall have no power to issue any shares of stock or to declare or pay any dividends.

(b)Nonprofit nature No part of the income or assets of the Institute shall inure to the benefit of any director, officer, employee, or any other individual except as salary or reasonable compensation for services.

(c)Nonpolitical nature The Institute may not contribute to, or otherwise support, any political party or candidate for elective public office.

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(a) Stock
The Institute shall have no power to issue any shares of stock or to declare or pay any dividends.
(b) Nonprofit nature
No part of the income or assets of the Institute shall inure to the benefit of any director, officer, employee, or any other individual except as salary or reasonable compensation for services.
(c) Nonpolitical nature
The Institute may not contribute to, or otherwise support, any political party or candidate for elective public office.

20 U.S.C. § 4419 (Nonprofit and nonpolitical nature of Institute) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Pub. L. 99–498, title XV, §1512, Oct. 17, 1986, 100 Stat. 1607.)