1. LawStack
  2. Title 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS
  3. Subtitle II - Patriotic and National Organizations
  4. Part B - Organizations
  5. Chapter 2101 - THEODORE ROOSEVELT ASSOCIATION
  6. 36 USC § 210106
36 USC § 210106
Restrictions
October 21, 2020
USC

(a) Exclusively Educational Purposes.—The corporation shall be operated exclusively for educational purposes.

(b) Stocks and Dividends.—The corporation may not issue stock or declare or pay a dividend.

(c) Distributions of Income or Assets.—The income or assets of the corporation may not inure to the benefit of any member or individual.

 Open Table
Historical and Revision Notes
Revised

Section

 Source (U.S. Code) Source (Statutes at Large)
210106 36:4705. May 31, 1920, ch. 216, §5, 41 Stat. 693.

In subsection (a), the words "is organized and" are omitted as executed and obsolete.

In subsection (b), the words "certificates of" are omitted as unnecessary.

In subsection (c), the words "income or assets" are substituted for "earnings, income, or funds" for consistency in the revised title.
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§ 210105 Powers
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§ 210107 Nonapplication of audit requirements

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