Legalize§ 30906. Restrictions
§ 30906. Restrictions
(a) Profit.— The corporation may not operate for pecuniary profit to its members.
(b) Stocks and Dividends.— The corporation may not issue stock or declare or pay a dividend.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1326.)
The words “certificates of” and “its object and purposes being solely of a benevolent character” are omitted as unnecessary.
| Historical and Revision Notes | ||
|---|---|---|
| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| 30906 | 36:24 (words after semicolon). | June 15, 1916, ch. 148, § 4 (words after semicolon), 39 Stat. 228. |
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