20 USC 4419 – Nonprofit and nonpolitical nature of Institute
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(a) Stock
The Institute shall have no power to issue any shares of stock or to declare or pay any dividends.
(b) Nonprofit nature
Terms Used In 20 USC 4419
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
- officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
No part of the income or assets of the Institute shall inure to the benefit of any director, officer, employee, or any other individual except as salary or reasonable compensation for services.
(c) Nonpolitical nature
The Institute may not contribute to, or otherwise support, any political party or candidate for elective public office.