36 U.S. Code § 30906 - Restrictions

§ 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

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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