§200104. Restrictions
(a) Profit.—The corporation may not operate for profit.
(b) Use of Earnings.—Earnings generated by the corporation may be used only for the purposes provided in section 200102 of this title.
(c) Use of Property.—Property held by the corporation, and the proceeds from the property, may be used only for the purposes provided in section 200102 of this title.
(d) Parks in the District of Columbia.—The corporation may not occupy any park in the District of Columbia.
( Pub. L. 105–225 , Aug. 12, 1998 , 112 Stat. 1452 .)
Historical and Revision Notes
Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
200104(a) | 36:5401 (3d sentence words before “and any earnings”). | Mar. 3, 1901, ch. 876, § 1 (2d sentence proviso, 3d sentence, last sentence proviso), 31 Stat. 1453; June 29, 1938, ch. 796, 52 Stat. 1226. |
200104(b) | 36:5401 (3d sentence words beginning with “and any earnings”). |
|
200104(c) | 36:5401 (2d sentence proviso). |
|
200104(d) | 36:5401 (last sentence proviso). |
|
In subsection (b), the words “earnings generated by the corporation” are substituted for “any earnings and/or surplus funds that may be created through any of its educational or scientific activities” to eliminate unnecessary words. The words “may be used only for the purposes provided in section 200102 of this title” are substituted for “shall be available only for the further accomplishment of the corporation’s stated purposes” for clarity and for consistency in the revised section.
In subsection (c), the words “Property held by the corporation” are substituted for “all property so held” for clarity. The words “may be used only for the purposes provided in section 200102 of this title” are substituted for “shall be held and used solely for the purposes set forth in this chapter” for clarity and for consistency in the revised section.
In subsection (d), the words “District of Columbia” are substituted for “city of Washington” for consistency in the revised title.