U.S Code last checked for updates: Oct 17, 2024
§ 40705.
Duty to maintain tax-exempt status

The corporation shall be operated in a manner and for purposes that qualify the corporation for exemption from taxation under section 501(a) of the Internal Revenue Code of 1986 (26 U.S.C. 501(a)) as an organization described in section 501(c)(3) of that Code (26 U.S.C. 501(c)(3)).

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1336.)
cite as: 36 USC 40705