Highlight any text to annotate

(a) Corporate Status.—The corporation shall maintain its status as a corporation incorporated under the laws of Texas. (b) Tax-Exempt Status.—The corporation shall maintain its status as an organization exempt from taxation under the Internal Revenue Code of 1986 (26 U.S.C. 1 et seq.). (Added Pub. L. 105–354, § 1(5)(A), Nov. 3, 1998, 112 Stat. 3243.) Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 21008(a)36 App.:5908(e).Aug. 13, 1998, Pub. L. 105–231, §§ 8(e), 14 (related to duty to maintain status), 112 Stat. 1531, 1532. 21008(b)36 App.:5913 (related to duty to maintain status).  In subsection (a), the words “organized and” are omitted as unnecessary.

Add a comment

Sign in to comment on this section.

Annotate the text

Highlight any passage on the Full Text tab to attach a note. Annotations appear on the Annotations tab.