Section 504B.1 – Corporations applicable.
504B.1 Corporations applicable. This chapter shall apply to every corporation organized under chapter 504, Code 1989, or current chapter 504, which corporation is deemed to be a private foundation as defined in section 509 of the Internal Revenue Code, which is incorporated in the state of Iowa after December 31, 1969, and as to any […]
Section 504B.2 – Articles of incorporation — contents.
504B.2 Articles of incorporation — contents. 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) […]
Section 504B.3 – Avoiding tax liability.
504B.3 Avoiding tax liability. The articles of incorporation of every such corporation shall be deemed to contain a provision requiring such corporation to distribute, for the purposes specified in its articles of incorporation, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of the Internal Revenue […]
Section 504B.4 – Construction.
504B.4 Construction. Nothing in this chapter shall impair the rights and powers of the courts or the attorney general of this state with respect to any corporation. [C73, 75, 77, 79, 81, §504B.4]
Section 504B.5 – Internal Revenue Code references.
504B.5 Internal Revenue Code references. All references to sections of the Internal Revenue Code shall mean the Code as defined in section 422.3. [C73, 75, 77, 79, 81, §504B.5] 2006 Acts, ch 1140, §8, 10, 11
Section 504B.6 – Certain powers not limited.
504B.6 Certain powers not limited. Nothing in this chapter shall limit the power of any nonprofit corporation organized under chapter 504, Code 1989, or organized under current chapter 504: 1. To at any time amend its articles of incorporation or other instrument governing such corporation by any amendment process allowable under the laws of this […]