§ 120107. Tax-exempt status required as condition of charter

Type Statute

Publication 2024-04-08

State In force

Department United States Congress

Source OLRC

§ 120107. Tax-exempt status required as condition of charter

If the corporation fails to maintain its status as an organization exempt from taxation under the Internal Revenue Code of 1986, the charter granted under this chapter shall terminate.

(Added Pub. L. 110–254, § 1(a)(2), June 30, 2008, 122 Stat. 2421.)

Editorial Notes

References in Text

The Internal Revenue Code of 1986, referred to in text, is classified generally to Title 26, Internal Revenue Code.

This document does not substitute reading the official United States Code published by the Office of the Law Revision Counsel. We assume no responsibility for any inaccuracies resulting from the conversion to this format.