§ 4419. — Nonprofit and nonpolitical nature of Institute.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 20USC4419]
TITLE 20--EDUCATION
CHAPTER 56--AMERICAN INDIAN, ALASKA NATIVE, AND NATIVE HAWAIIAN CULTURE
AND ART DEVELOPMENT
SUBCHAPTER I--AMERICAN INDIANS AND ALASKA NATIVES
Sec. 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.
(Pub. L. 99-498, title XV, Sec. 1512, Oct. 17, 1986, 100 Stat. 1607.)
