§ 53-12-182. Effect of Code Sections 53-12-180 and 53-12-181 as to Forfeiture or Reversion of Trust Property
Nothing contained in Code Sections 53-12-180 and 53-12-181 shall cause or be construed to cause a forfeiture or reversion of any of the property of a corporation which is subject to such Code sections. History. Code 1981, § 53-12-182 , enacted by Ga. L. 2010, p. 579, § 1/SB 131.
§ 53-12-183. Election of Private Foundation to Distribute Such Property as Will Enable Corporation to Avoid Tax Liability
With respect to property held by a corporation which is a private foundation and which is subject to conditions which permit distributions to the extent of the net income of the property each year but do not permit distributions of the property or any part thereof itself, the directors of the corporation may elect to […]
§ 53-12-184. Effect of Code Sections 53-12-180 Through 53-12-183 on Powers of the Courts or the Attorney General
Nothing in Code Sections 53-12-180 through 53-12-183 shall impair the rights and powers of the courts or the Attorney General of this state with respect to any corporation. History. Code 1981, § 53-12-184 , enacted by Ga. L. 2010, p. 579, § 1/SB 131.
§ 53-12-190. Automatic Amendment of Governing Instrument of Private Foundation Trust, Charitable Trust, or Split-Interest Trust
Notwithstanding any provision therein to the contrary and except as provided in Code Section 53-12-192, the governing trust instrument of any trust which is a private foundation, a charitable trust, as defined in Section 4947(a)(1) of the federal Internal Revenue Code, or a split-interest trust, as defined in Section 4947(a)(2) of the federal Internal Revenue […]
§ 53-12-191. Automatic Amendment of Governing Instrument of Private Foundation Trust or Charitable Trust as to Distribution of Trust Funds
Notwithstanding any provision therein to the contrary and except as provided in Code Section 53-12-192, the governing trust instrument of any trust which is a private foundation or which is a charitable trust, as defined in Section 4947(a)(1) of the federal Internal Revenue Code, shall be amended automatically as of the later of the inception […]
§ 53-12-192. Amendment of Governing Instrument of Private Foundation Trust, Charitable Trust, or Split-Interest Trust to Exclude Application of Code Section 53-12-190 or 53-12-191
The trustees of any trust which is a private foundation, a charitable trust, as defined in Section 4947(a)(1) of the federal Internal Revenue Code, or a split-interest trust, as defined in Section 4947(a)(2) of the federal Internal Revenue Code, may, without judicial proceedings, amend the governing trust instrument of the trust expressly to exclude the […]
§ 53-12-193. Election of Trustees of Private Foundation or Charitable Trust to Distribute Such Trust Principal as Will Enable Trust to Avoid Tax Liability; Filing of Written Election With Attorney General; Form of Distribution; Revocation of Election
With respect to any trust which is a private foundation or a charitable trust, as defined in Section 4947(a)(1) of the federal Internal Revenue Code, the governing trust instrument of which permits distributions to the extent of the net income of the trust each year but does not permit distributions from trust principal, the trustees […]
§ 53-12-194. Effect of Code Sections 53-12-190 Through 53-12-193 as to Forfeiture or Reversion of Trust Property or Failure of Trust
Nothing contained in Code Sections 53-12-190 through 53-12-193 shall cause or be construed to cause a forfeiture or reversion of any of the property of a trust which is subject to such Code sections or to make the purposes of such trust impossible of accomplishment. History. Code 1981, § 53-12-194 , enacted by Ga. L. […]
§ 53-12-195. Effect of Code Sections 53-12-190 Through 53-12-193 on Powers of Courts and Attorney General
Nothing in Code Sections 53-12-190 through 53-12-193 shall impair the rights and powers of the courts or the Attorney General of this state with respect to any trust. History. Code 1981, § 53-12-195 , enacted by Ga. L. 2010, p. 579, § 1/SB 131.
§ 53-12-180. Automatic Amendment of Articles of Incorporation of Corporate Private Foundation
Notwithstanding any provision therein to the contrary and except as provided in Code Section 53-12-181, the articles of incorporation of any corporation which is a private foundation shall be amended automatically as of the later of the date of incorporation or January 1, 1972, to provide that the corporation shall: Not engage in any act […]