FEDERAL · 36 U.S.C. · Chapter 225
Restrictions
Current through Pub. L. 119-102
(a)General.—The corporation shall be nonprofit, nonpolitical, nonsectarian, and nonpartisan, and may not promote the candidacy of an individual seeking public office.
(b)Ownership and Use of Property.—The corporation may not accept, own, or hold, directly or indirectly, any property not reasonably necessary to carry out the purposes of the corporation.
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36 U.S.C. § 22506 (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. 1305.)
Editorial Notes
In subsection (a), words "as an organization" are omitted as unnecessary.
In subsection (b), the words "real or personal" are omitted as unnecessary and for consistency in the revised title. The words "not reasonably necessary to carry out the purposes of the corporation" are substituted for "except such as may be reasonably necessary to carry out the purposes of its creation as defined in this chapter" to eliminate unnecessary words.
In subsection (b), the words "real or personal" are omitted as unnecessary and for consistency in the revised title. The words "not reasonably necessary to carry out the purposes of the corporation" are substituted for "except such as may be reasonably necessary to carry out the purposes of its creation as defined in this chapter" to eliminate unnecessary words.