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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XI CERTAIN RELIGIOUS AND CHARITABLE MATTERS
  • CHAPTER 68A LIMITATIONS UPON THE CONDUCT OF CERTAIN TRUSTS AND CORPORATIONS HAVING CHARITABLE INTERESTS
  • Section 5 Distributions of corporations

Section 5. Each corporation which is a “private foundation” as defined in section 509 of said Code shall distribute, for the purposes specified in its articles of organization, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of said Code.