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United States Code (Last Updated: May 24, 2014) |
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Title 36. PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS |
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SubTitle II. Patriotic and National Organizations |
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Part B. Organizations |
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Chapter 2101. THEODORE ROOSEVELT ASSOCIATION |
§ 210106. Restrictions
Latest version.
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(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.
Historical And Revision
Historical and Revision Notes | ||
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Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
210106 | 36:4705. | |
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.