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36 U.S.C. § 20708 — Duty to maintain tax-exempt status

submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 40 words · no verdicts yet

in plain englishAI-generated · not legal advice

The corporation must stay tax-exempt under the Internal Revenue Code. If it loses that status, its federal charter expires.

The corporation must keep its status as an organization exempt from taxation under the Internal Revenue Code of 1986. If the corporation stops qualifying for that tax-exempt status, the charter Congress granted it in this chapter automatically expires.
the actual law source: uscode.house.gov ↗public domain

The corporation shall maintain its status as an organization exempt from taxation under the Internal Revenue Code of 1986 (26 U.S.C. 1 et seq.). If the corporation does not maintain that status, the charter granted by this chapter expires.

Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1289.)

history & why it existsrecord from the source credit
  • 1998Enacted · Pub. L. 105-225 · 112 Stat. 1289

A history note hasn’t been published yet. The record shows enactment by Pub. L. 105-225 on 1998-08-12.

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