Iowa § 504B.2 Articles of incorporation — contents

Iowa Statutes

§ 504B.2 — Articles of incorporation — contents

Iowa § 504B.2

Title XIIBUSINESS ENTITIES

Ch. 504BNONPROFIT CORPORATIONS AND FEDERAL TAX LIABILITY

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Bluebook

Iowa Code § 504B.2 (2026).

Text

The articles of incorporation of every such corporation shall be deemed to contain provisions forbidding the corporation to:

1.Engage in any act of self-dealing, as defined in section 4941(d) of the Internal Revenue Code, which would give rise to any liability for the tax imposed by section 4941(a) of the Internal Revenue Code;

2.Retain any excess business holdings, as defined in section 4943(c) of the Internal Revenue Code, which would give rise to any liability for the tax imposed by section 4943(a) of the Internal Revenue Code;

3.Make any investment which would jeopardize the carrying out of any of its exempt purposes, within the meaning of section 4944 of the Internal Revenue Code, so as to give rise to any liability for the tax imposed by section 4944(a) of the Internal Revenue Cod

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The articles of incorporation of every such corporation shall be deemed to contain
provisions forbidding the corporation to:
1. Engage in any act of self-dealing, as defined in section 4941(d) of the Internal Revenue
Code, which would give rise to any liability for the tax imposed by section 4941(a) of the
Internal Revenue Code;
2. Retain any excess business holdings, as defined in section 4943(c) of the Internal
Revenue Code, which would give rise to any liability for the tax imposed by section 4943(a)
of the Internal Revenue Code;
3. Make any investment which would jeopardize the carrying out of any of its exempt
purposes, within the meaning of section 4944 of the Internal Revenue Code, so as to give rise
to any liability for the tax imposed by section 4944(a) of the Internal Revenue Code; and
4. Make any taxable expenditures, as defined in section 4945(d) of the Internal Revenue
Code, which would give rise to any liability for the tax imposed by section 4945(a) of the
Internal Revenue Code.