Question: An organization wishing to qualify as an exempt organization a. Is prohibited from issuing capital stock. b. Is limited to three prohibited transactions a year.

An organization wishing to qualify as an exempt organization

a. Is prohibited from issuing capital stock.

b. Is limited to three prohibited transactions a year.

c. Must not have non-US citizens on its governing board.

d. Must be of a type specifically identified as one of the classes on which exemption is conferred by the Code.

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