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26 USC § 1562 - Repealed. Pub. L. 91–172, title IV, § 401(a)(2), Dec. 30, 1969, 83 Stat. 600] 

---
identifier: "/us/usc/t26/s1562"
source: "usc"
legal_status: "official_prima_facie"
title: "26 USC § 1562 - Repealed. Pub. L. 91–172, title IV, § 401(a)(2), Dec. 30, 1969, 83 Stat. 600]"
title_number: 26
title_name: "INTERNAL REVENUE CODE"
section_number: "1562"
section_name: "Repealed. Pub. L. 91–172, title IV, § 401(a)(2), Dec. 30, 1969, 83 Stat. 600]"
chapter_number: 6
chapter_name: "CONSOLIDATED RETURNS"
subchapter_number: "B"
subchapter_name: "Related Rules"
part_number: "II"
part_name: "CERTAIN CONTROLLED CORPORATIONS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
status: "repealed"
---

# [§ 1562. Repealed. Pub. L. 91–172, title IV, § 401(a)(2), Dec. 30, 1969, 83 Stat. 600]

Section, added , , , amended , , , set limits on the privilege of groups to elect multiple surtax exemptions.

## Statutory Notes and Related Subsidiaries

### Effective Date of Repeal

Repeal applicable with respect to taxable years beginning after , see , set out as an Effective Date of 1969 Amendment note under .

### Retroactive Termination of Elections

, , , authorized an affiliated group of corporations making a consolidated return for the taxable year which included , to terminate the election under  with respect to any prior Dec. 31 which was included in a taxable year of any such corporations from which there was a net operating loss carryover to the 1970 consolidated return year and provided that the termination of such election was to be valid only if in accord with subsecs. (c)(1) and (e) of  other than the requirement of making the termination prior to the expiration of the 3 year period specified in subsec. (e) of .