36 U.S.C. § 30906Chapter 309

§30906. Restrictions

Primary source

Verbatim text below is from the United States Code (GovInfo), a public-domain U.S. government work.

Full Text

§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.

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.

Last amended: December 31, 2024

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