36 USC 210106 - Restrictions

(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.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1456.)

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.

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Last modified: October 26, 2015