The following organizations and corporations shall be exempt from taxation under this division:
1. All state, national, private, co-operative, and savings banks, credit unions, title insurance and trust companies, savings and loan associations, production credit associations, insurance companies or insurance associations, reciprocal or inter-insurance exchanges, and fraternal beneficiary associations.
2. An organization described in section 501 of the Internal Revenue Code unless the exemption is denied under section 501, 502, 503, or 504 of the Internal Revenue Code.
[C35, § 6943-f30; C39, § 6943.066; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 422.34]
92 Acts, 2nd Ex, ch 1001, § 239, 251; 94 Acts, ch 1165, §20
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