36 USC 210106 - Restrictions

U.S Code last checked for updates: May 19, 2024

§ 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.)

cite as: 36 USC 210106