1260.113—Established national nonprofit industry-governed organizations.
Established national nonprofit industry-governed organizations means organizations which:
(a)
Are nonprofit organizations pursuant to sections 501(c) (3), (5) or (6) of the Internal Revenue Code (26 U.S.C. 501(c) (3), (5) and (6));
(b)
Are governed by a board of directors representing the cattle or beef industry on a national basis; and