(a) Corporate Status.—The corporation shall maintain its status as a corporation incorporated under the laws of Pennsylvania.

Terms Used In 36 USC 70108

  • 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) 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.).

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