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§ 21905. Restrictions

Type Statute
Publication 2024-04-08
State In force
Department United States Congress
Source OLRC
Reform history JSON API
§ 21905. Restrictions

(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.)

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.

Historical and Revision Notes
RevisedSection Source (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).

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.