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36 U.S.C. § 21108 — Duty to maintain corporate and tax-exempt status

submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 54 words · no verdicts yet

in plain englishAI-generated · not legal advice

The corporation must keep its status as a corporation in every state where it's incorporated. It must also stay tax-exempt under the Internal Revenue Code.

(a) Corporate Status: The corporation must keep its status as a corporation under the laws of every state where it's incorporated. (b) Tax-Exempt Status: The corporation must also keep its status as an organization exempt from taxes under the Internal Revenue Code of 1986.
the actual law source: uscode.house.gov ↗public domain
(a)Corporate Status.—

The corporation shall maintain its status as a corporation incorporated under the laws of each State in which it is incorporated.

(b)Tax-Exempt Status.—

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.).

Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1294.)

history & why it existsrecord from the source credit
  • 1998Enacted · Pub. L. 105-225 · 112 Stat. 1294

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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