Statutes, codes, and regulations
United States Code
Title 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONSPart B - ORGANIZATIONS
Chapter 2101 - THEODORE ROOSEVELT ASSOCIATION
Section 210106 - Restrictions

36 U.S.C. § 210106

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Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)
Section 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.

36 U.S.C. § 210106

Pub. L. 105-225, 112 Stat. 1456.

HISTORICAL AND REVISION NOTES
Revised SectionSource (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.