Utah § 16-6a-116 Private foundations.

Utah Statutes

§ 16-6a-116 — Private foundations.

Utah § 16-6a-116

Title 16Corporations

Ch. 16-6aUtah Revised Nonprofit Corporation Act

Part 16-6a-1General Provisions

This text of Utah § 16-6a-116 (Private foundations.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 16-6a-116 (2026).

Text

Except when otherwise determined by a court of competent jurisdiction, a nonprofit corporation that is a private foundation as defined in Section 509(a), Internal Revenue Code:

(1)shall make distributions for each taxable year at the time and in the manner as not to subject the nonprofit corporation to tax under Section 4942, Internal Revenue Code;

(2)may not engage in any act of self-dealing as defined in Section 4941(d), Internal Revenue Code;

(3)may not retain any excess business holdings as defined in Section 4943(c), Internal Revenue Code;

(4)may not make any investments that would subject the nonprofit corporation to taxation under Section 4944, Internal Revenue Code; and

(5)may not make any taxable expenditures as defined in Section 4945(d), Internal Revenue Code.

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Except when otherwise determined by a court of competent jurisdiction, a nonprofit corporation that is a private foundation as defined in Section 509(a), Internal Revenue Code:
(1) shall make distributions for each taxable year at the time and in the manner as not to subject the nonprofit corporation to tax under Section 4942, Internal Revenue Code;
(2) may not engage in any act of self-dealing as defined in Section 4941(d), Internal Revenue Code;
(3) may not retain any excess business holdings as defined in Section 4943(c), Internal Revenue Code;
(4) may not make any investments that would subject the nonprofit corporation to taxation under Section 4944, Internal Revenue Code; and
(5) may not make any taxable expenditures as defined in Section 4945(d), Internal Revenue Code.