Duty to maintain corporate and tax-exempt status

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§154508. Duty to maintain corporate and tax-exempt status

(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.).

( Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1436 .)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
154508(a) 36:2808(f). Oct. 19, 1984, Pub. L. 98–520, §§8(f), 15 (1st sentence), 98 Stat. 2429 , 2430.
154508(b) 36:2814 (1st sentence).  


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