36 U.S.C. § 30906

Current through P.L. 118-64 (published on www.congress.gov on 05/24/2024), except for [P. L. 118-63]

Section 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.

36 U.S.C. § 30906

Pub. L. 105-225, 112 Stat. 1326.

HISTORICAL AND REVISION NOTES
Revised Section	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.

The words "certificates of" and "its object and purposes being solely of a benevolent character" are omitted as unnecessary.