37.1315—Nonprofit organization.
(a)
Any corporation, trust, association, cooperative or other organization that:
(1)
Is operated primarily for scientific, educational, service, or similar purposes in the public interest.
(2)
Is not organized primarily for profit; and
(3)
Uses its net proceeds to maintain, improve, or expand the operations of the organization.
(b)
The term includes any nonprofit institution of higher education or nonprofit hospital.