2015 US Code
Title 26 - Internal Revenue Code (Sections 1 - 9834)
Subtitle A - Income Taxes (Sections 1 - 1564)
Chapter 6 - Consolidated Returns (Sections 1501 - 1564)
Subchapter B - Related Rules (Sections 1551 - 1564)
Part II - Certain Controlled Corporations (Sections 1561 - 1564)
Sec. 1562 - Repealed. Pub. L. 91-172, title IV, §401(a)(2), Dec. 30, 1969, 83 Stat. 600

Section, added Pub. L. 88–272, title II, §235(a), Feb. 26, 1964, 78 Stat. 117, amended Pub. L. 91–172, title IV, §401(b)(2)(A), Dec. 30, 1969, 83 Stat. 602, set limits on the privilege of groups to elect multiple surtax exemptions.

Repeal applicable with respect to taxable years beginning after Dec. 31, 1974, see section 401(h)(1) of Pub. L. 91–172, set out as an Effective Date of 1969 Amendment note under section 1561 of this title.

Pub. L. 91–172, title IV, §401(g), Dec. 30, 1969, 83 Stat. 604, authorized an affiliated group of corporations making a consolidated return for the taxable year which included Dec. 31, 1970, to terminate the election under section 1562 of this title with respect to any prior Dec. 31 which was included in a taxable year of any such corporations from which there was a net operating loss carryover to the 1970 consolidated return year and provided that the termination of such election was to be valid only if in accord with subsecs. (c)(1) and (e) of section 1562 of this title other than the requirement of making the termination prior to the expiration of the 3 year period specified in subsec. (e) of section 1562 of this title.