20 USC 4419: Nonprofit and nonpolitical nature of Institute
Text contains those laws in effect on April 23, 2024
From Title 20-EDUCATIONCHAPTER 56-AMERICAN INDIAN, ALASKA NATIVE, AND NATIVE HAWAIIAN CULTURE AND ART DEVELOPMENTSUBCHAPTER I-AMERICAN INDIANS AND ALASKA NATIVES
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§4419. Nonprofit and nonpolitical nature of Institute
(a) Stock
The Institute shall have no power to issue any shares of stock or to declare or pay any dividends.
(b) Nonprofit nature
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.
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