36 U.S. Code § 30906 - Restrictions

(a) Profit.— The corporation may not operate for pecuniary profit to its members.
(b) Stocks and Dividends.— The corporation may not issue stock or declare or pay a dividend.

Source

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1326.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
30906
36:24 (words after semicolon).
June 15, 1916, ch. 148, § 4 (words after semicolon), 39 Stat. 228.

The words “certificates of” and “its object and purposes being solely of a benevolent character” are omitted as unnecessary.

 

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