36 USC 210106
36 USC 210106
§ 210106 - Restrictions
CHAPTER 2101— THEODORE ROOSEVELT ASSOCIATION
(a) The corporation shall be operated exclusively for educational purposes.
(b) The corporation may not issue stock or declare or pay a dividend.
(c) The income or assets of the corporation may not inure to the benefit of any member or individual.
Notes
Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 21010636:4705.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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