Trade Association Law and Legal Definition

According to 15 USCS § 7903 (8), [Title 15. Commerce and Trade; Chapter 105. Protection of Lawful Commerce in Arms] the term trade association means--

“(A) any corporation, unincorporated association, federation, business league, professional or business organization not organized or operated for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual;

(B) that is an organization described in section 501(c)(6) of the Internal Revenue Code of 1986 [26 USCS § 501(c)(6)] and exempt from tax under section 501(a) of such Code [26 USCS § 501(a)]; and

(C) 2 or more members of which are manufacturers or sellers of a qualified product.”