Nonprofit institutions

A society may create, maintain and operate, or may establish organizations to operate, not-for-profit institutions to further the purposes permitted by § 56-25-105(a)(2) . The institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement. Acts 1990, ch. 703, § 1. A society may create, maintain and operate, or may establish organizations to operate, not-for-profit institutions to further the purposes permitted by § 56-25-105(a)(2) . The institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement. Acts 1990, ch. 703, § 1.