36 U.S. Code § 220507 - Restrictions

(a) Profit and Stock.— The corporation may not engage in business for profit or issue stock.
(b) Political Activities.— The corporation shall be nonpolitical and may not promote the candidacy of an individual seeking public office.

Source

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1470.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
220507(a)
36:378.
Sept. 21, 1950, ch. 975, title I, §§ 107, 108, as added Nov. 8, 1978, Pub. L. 95–606, § 1(b), 92 Stat. 3048.
220507(b)
36:377.

In subsection (a), the words “may not” are substituted for “shall have no power to” for consistency in the revised title. The words “capital”, “pecuniary”, and “or gain” are omitted as unnecessary.
In subsection (b), the words “as an organization” are omitted as unnecessary.

 

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