36 USC § 220507 Restrictions | United States Code | US Law

36 USC § 220507

Restrictions

October 21, 2020

USC

(a) Profit and Stock.—The corporation may not engage in business for profit or issue stock.

(b) Political Activities.—The corporation shall be nonpolitical and may not promote the candidacy of an individual seeking public office.

Open Table

Historical and Revision Notes
Revised Section	Source (U.S. Code)	Source (Statutes at Large)
220507(a)	36:378.	Sept. 21, 1950, ch. 975, title I, §§107, 108, as added Nov. 8, 1978, Pub. L. 95–606, §1(b), 92 Stat. 3048.
220507(b)	36:377.

In subsection (a), the words "may not" are substituted for "shall have no power to" for consistency in the revised title. The words "capital", "pecuniary", and "or gain" are omitted as unnecessary.

In subsection (b), the words "as an organization" are omitted as unnecessary.

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