47-22-68.1. Restrictions on private foundations--Definition of terms.
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/sd/title-47/chapter-47-22/47-22-68-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Terms as used in §§ 47-22-68.1 to 47-22-68.9 , inclusive, shall have the following meaning:
(1)"Excess business holdings," as defined in section 4943(c) of the Internal Revenue Code;
(2)"Internal Revenue Code," the United States Internal Revenue Code of 1954, as amended;
(3)"Private foundation," as defined in section 509(a) of the Internal Revenue Code;
(4)"Self - dealing," as defined in section 4941(d) of the Internal Revenue Code;
(5)"Taxable expenditure," as defined in section 4945(d) of the Internal Revenue Code.