(a) Corporate Status.—The corporation shall maintain its status as a corporation incorporated under the laws of Texas.
(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.).
Historical and Revision Notes Revised SectionSource (U.S. Code)Source (Statutes at Large)21008(a) 36 App.:5908(e). Aug. 13, 1998, Pub. L. 105–231, §§8(e), 14 (related to duty to maintain status), 112 Stat. 1531, 1532. 21008(b) 36 App.:5913 (related to duty to maintain status). In subsection (a), the words "organized and" are omitted as unnecessary.
36 U.S.C. § 21008 (2018)
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