The personal property and funds of the corporation, whether principal or income, so long as held or used only to carry out the purposes of the corporation, are exempt from taxation by the United States Government, the District of Columbia, and the territories and possessions of the United States.
The words “so long as held or used only to carry out the purposes of the corporation” are substituted for “held or used for the purposes hereof, pursuant to the provisions of this chapter . . . so long as the same shall be so used” to eliminate unnecessary words. The words “the United States Government, the District of Columbia, and the territories and possessions of the United States” are substituted for “the United States or any Territory or District thereof” for clarity.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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