§ 152909. Duty to maintain corporate and tax-exempt status
§ 152909.
Duty to maintain corporate and tax-exempt status
(a)
Corporate Status.—
The corporation shall maintain its status as a corporation incorporated under the laws of each State in which it is incorporated.
(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.).