Highlight any text to annotate

(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. (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1299.) Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 21905(a)36:3302 (1st sentence).July 5, 1935, ch. 373, §§ 2 (1st sentence), 4, 49 Stat. 458. 21905(b)36:3304 (1st sentence).  21905(c)36:3304 (last sentence).  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.

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.