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.

Historical and Revision Notes



Source (U.S. Code)

Source (Statutes at Large)


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.