Legalize§ 70108. Duty to maintain corporate and tax-exempt status
§ 70108. Duty to maintain corporate and tax-exempt status
(a) Corporate Status.— The corporation shall maintain its status as a corporation incorporated under the laws of Pennsylvania.
(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.).
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1348; [Pub. L. 106–398, § 1 [div. A], title X, § 1087(g)(4)], Oct. 30, 2000, 114 Stat. 1654, 1654A–294.)
In subsection (a), the words “organized and” and “the State of” are omitted as unnecessary.
| Historical and Revision Notes | ||
|---|---|---|
| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| 70108(a) | 36:5608(e). | Sept. 23, 1996, Pub. L. 104–201, title XVIII, §§ 1808(e), 1814 (related to duty to maintain status), 110 Stat. 2761, 2762. |
| 70108(b) | 36:5613 (related to duty to maintain status). |
Editorial Notes
Amendments
2000—Subsec. (a). Pub. L. 106–398 substituted “Pennsylvania” for “Delaware”.
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