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36 U.S.C. § 140407 — Tax-exempt status required as condition of charter
submitted 17 years ago by Pub. L. 111-95 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 29 words · no verdicts yet
in plain englishAI-generated · not legal advice
This law ties the charter to tax-exempt status. If the corporation loses its tax-exempt status under the Internal Revenue Code of 1986, its federal charter ends.
This section connects the corporation's charter to its tax status.
The corporation must keep its status as an organization exempt from taxes under the Internal Revenue Code of 1986. If the corporation loses that tax-exempt status, the charter granted by this chapter terminates.
the actual law source: uscode.house.gov ↗public domain
If the corporation fails to maintain its status as an organization exempt from taxation under the Internal Revenue Code of 1986, the charter granted under this chapter shall terminate.
Source credit: (Added Pub. L. 111–95, § 1(a), Nov. 6, 2009, 123 Stat. 3003.)
history & why it existsrecord from the source credit
- 2009Enacted · Pub. L. 111-95 · 123 Stat. 3003
A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-95 on 2009-11-06.
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