FEDERAL · 36 U.S.C. · Chapter 219
Restrictions
Current through Pub. L. 119-102
(a)Profit and Stock.—The corporation shall be nonprofit and may not issue stock.
(b)Political Activities.—The corporation shall be nonpolitical and nonsectarian, and may not promote the candidacy of an individual seeking public office.
(c)Honorary Members.—The corporation may not have honorary members.
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36 U.S.C. § 21905 (Restrictions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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History
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1299.)
Editorial Notes
In subsection (a), the word "capital" is omitted for consistency in the revised title.
In subsection (b), the words "as an organization" are omitted as unnecessary.
In subsection (b), the words "as an organization" are omitted as unnecessary.