1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 11 - CIVIL AIR PATROL
Sec. 204 - Prohibition against issuance of stock or business activities; completion of organization
View Metadata| Publication Title | United States Code, 1994 Edition, Supplement 1, Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES CHAPTER 11 - CIVIL AIR PATROL Sec. 204 - Prohibition against issuance of stock or business activities; completion of organization |
| Contains | section 204 |
| Date | 1995 |
| Laws in Effect as of Date | January 16, 1996 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | July 1, 1946, ch. 527, §4, 60 Stat. 347. |
| Statutes at Large Reference | 60 Stat. 347 |
§204. Prohibition against issuance of stock or business activities; completion of organization
(a) The corporation shall have no power to issue capital stock or engage in business for pecuniary profit or gain, its objects and purposes being solely of a benevolent character and not for the pecuniary profit or gain of its members.
(b) The persons named in section 201 of this title, their associates, and successors are authorized to complete the organization of the corporation by the selection of officers, the adoption of a constitution and bylaws, the promulgation of rules or regulations that may be necessary for the accomplishment of the purposes of this corporation, and the doing of such other acts as may be necessary for such purposes.
(July 1, 1946, ch. 527, §4, 60 Stat. 347.)
Section Referred to in Other SectionsThis section is referred to in sections 201, 206 of this title.
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