Section 8 Companies are a nonprofit company that has as its purpose “the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity or protection of environment. It must apply any profits or other income to the promotion of its objectives, and must prohibit the payment of any dividend to its members. Section 8 companies may be either private or public. Private companies have no duty to disclose their finances to the public, as public companies do. Unlike trusts and societies, which are generally subject to state law, nonprofit companies are governed by the federal Indian Companies Act 2013.
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