CONDITIONAL  AND  OTHER  EXEMPTIONS

Sec. 11. (a)  That  there  shall  not  be  taxed  under  this  title
any  income  received  by  any —

First. Labor,  agricultural,   or  horticultural   organization;

Second. Mutual  savings  bank  not  having  a  capital  stock  rep-
resented by  shares;

Third. Fraternal  beneficiary  society,  order,  or  association,
operated  under  the  lodge  system  or  for  the  exclusive  benefit  of
the  members  of  a  fraternity  itself  operating  under  the  lodge  sys-
tem, and  providing  for  the  payment  of  life,  sick,  accident,  or
other  benefits  to  the  members  of  such  society,  order,  or  associa-
tion or  their  dependents;

Fourth. Domestic  building  and  loan  association  and  co-op-
erative banks  without  capital  stock  organized  and  operated  for
mutual  purposes  and  without  profit;

Fifth. Cemetery  company  owned  and  operated  exclusively  for
the  benefit  of  its  members;

Sixth. Corporation  or  association  organized  and  operated
exclusively  for  religious,  charitable,  scientific,  or  educational  pur-
poses, no  part  of  the  net  income  of  which  inures  to  the  benefit  of
any  private  stockholder  or  individual;

Seventh. Business  league,  chamber  of  commerce,  or  board  of


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trade,  not  organized  for  profit  and  no  part  of  the  net  income  of
which  inures  to  the  benefit  of  any  private  stockholder  or  indi-
vidual ;

Eighth. Civic  league  or  organization  not  organized  for  profit
but  operated  exclusively  for  the  promotion  of  social  welfare;

Ninth. Club  organized  and  operated  exclusively  for  pleasure,
recreation,  and  other  non-profitable  purposes,  no  part  of  the  net
income  of  which  inures  to  the  benefit  of  any  private  stockholder
or  member;

Tenth. Farmers'  or  other  mutual  hail,  cyclone,  or  fire  insur-
ance company^  mutual  ditch  or  irrigation  company,  mutual  or
co-operative  telephone  company,  or  like  organization  of  a  purely
local  character,  the  income  of  which  consists  solely  of  assessments,
dues,  and  fees  collected  from  members  for  the  sole  purpose  of
meeting  its  expenses;

Eleventh. Farmers',  fruit  growers',  or  like  association,  or-
ganized and  operated  as  a  sales  agent  for  the  purpose  of  market-
ing the  products  of  its  members  and  turning  back  to  them  the
proceeds  of  sales,  less  the  necessary  selling  expenses,  on  the  basis
of  quantity  of  produce  furnished  by  them;

Twelfth. 