(a) Corporate Status.—The corporation shall maintain its status as a corporation incorporated under the laws of each State in which it is incorporated.

(b) Tax-Exempt Status.—The corporation shall maintain its status as an organization exempt from taxation under the Internal Revenue Code of 1986 (26 U.S.C. 1 et seq.).

Open Table
Historical and Revision Notes
Revised

Section

Source (U.S. Code) Source (Statutes at Large)
152909(a) 36:2908(f). Oct. 30, 1984, Pub. L. 98–561, §§8(f), 16 (1st sentence), 98 Stat. 2911, 2913.
152909(b) 36:2915 (1st sentence).  

Tried the LawStack mobile app?

Join thousands and try LawStack mobile for FREE today.

  • Carry the law offline, wherever you go.
  • Download CFR, USC, rules, and state law to your mobile device.