26 USC § 526 - Shipowners’ protection and indemnity associations

---
identifier: "/us/usc/t26/s526"
source: "usc"
legal_status: "official_prima_facie"
title: "26 USC § 526 - Shipowners’ protection and indemnity associations"
title_number: 26
title_name: "INTERNAL REVENUE CODE"
section_number: "526"
section_name: "Shipowners’ protection and indemnity associations"
chapter_number: 1
chapter_name: "NORMAL TAXES AND SURTAXES"
subchapter_number: "F"
subchapter_name: "Exempt Organizations"
part_number: "V"
part_name: "SHIPOWNERS’ PROTECTION AND INDEMNITY ASSOCIATIONS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Aug. 16, 1954, ch. 736, 68A Stat. 178.)"
---


# § 526. Shipowners’ protection and indemnity associations

There shall not be included in gross income the receipts of shipowners’ mutual protection and indemnity associations not organized for profit, and no part of the net earnings of which inures to the benefit of any private shareholder; but such corporations shall be subject as other persons to the tax on their taxable income from interest, dividends, and rents.

---

**Source Credit**: (Aug. 16, 1954, ch. 736, 68A Stat. 178.)