(a) Profit.—The corporation may not operate for pecuniary profit to its members.

Terms Used In 36 USC 30906

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

(b) Stocks and Dividends.—The corporation may not issue stock or declare or pay a dividend.

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