§ 1381. Organizations to which part applies

• (a) This part shall apply to—
  • (1) any organization exempt from tax under section 521 (relating to exemption of farmers’ cooperatives from tax), and
  • (2) any corporation operating on a cooperative basis other than an organization—
    • (A) which is exempt from tax under this chapter,
    • (B) which is subject to the provisions of—
      • (i) part II of subchapter H (relating to mutual savings banks, etc.), or
      • (ii) subchapter L (relating to insurance companies), or
    • (C) which is engaged in furnishing electric energy, or providing telephone service, to persons in rural areas.
• (b) An organization described in subsection (a)(1) shall be subject to the tax imposed by section 11.
• (c) For treatment of income from load loss transactions of organizations described in subsection (a)(2)(C), see section 501(c)(12)(H).