26 U.S.C. § 526Chapter 1
§526. Shipowners' protection and indemnity associations
Primary source
Verbatim text below is from the United States Code (GovInfo), a public-domain U.S. government work.
Full Text
§526. Shipowners' protection and indemnity associations
There shall not be included in gross income the receipts of shipowners' mutual protection and indemnity associations not organized for profit, and no part of the net earnings of which inures to the benefit of any private shareholder; but such corporations shall be subject as other persons to the tax on their taxable income from interest, dividends, and rents.
Last amended: December 31, 2024
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