Delaware Code (Titles 8, 9, 25, 30)
8 Del. C. § 127
Private foundation; powers and duties
A corporation of this State which is a private foundation under the United States internal revenue laws and whose certificate of incorporation does not expressly provide that this section shall not apply to it is required to act or to refrain from acting so as not to subject itself to the taxes imposed by 26 U.S.C. § 4941 (relating to taxes on self-dealing), § 4942 (relating to taxes on failure to distribute income), § 4943 (relating to taxes on excess business holdings), § 4944 (relating to taxes on investments which jeopardize charitable purpose), or § 4945 (relating to taxable expenditures), or corresponding provisions of any subsequent United States internal revenue law.
Amendment history
58 Del. Laws, c. 87.
Source: view the official text
In this title (40 sections)
- 8-103 · Execution, acknowledgment, filing, recording and effective date…
- 8-104 · Certificate of incorporation; definition
- 8-105 · Certificate of incorporation and other certificates; evidence
- 8-106 · Commencement of corporate existence
- 8-107 · Powers of incorporators
- 8-108 · Organization meeting of incorporators or directors named in…
- 8-109 · Bylaws
- 8-110 · Emergency bylaws and other powers in emergency [For application…
- 8-111 · Jurisdiction to interpret, apply, enforce or determine the…
- 8-112 · Access to proxy solicitation materials
- 8-113 · Proxy expense reimbursement
- 8-114 · Application of chapter to nonstock corporations
- 8-115 · Forum selection provisions
- 8-116 · Document form, signature and delivery
- 8-121 · General powers
- 8-122 · Specific powers [For application of this section, see 84 Del.…
- 8-123 · Powers respecting securities of other corporations or entities
- 8-124 · Effect of lack of corporate capacity or power; ultra vires
- 8-125 · Conferring academic or honorary degrees
- 8-126 · Banking power denied
- 8-127 · Private foundation; powers and duties
- 8-131 · Registered office in State
- 8-132 · Registered agent in State; resident agent
- 8-133 · Change of location of registered office; change of registered…
- 8-134 · Change of address or name of registered agent
- 8-135 · Resignation of registered agent coupled with appointment of…
- 8-136 · Resignation of registered agent not coupled with appointment of…
- 8-141 · Board of directors; powers; number, qualifications, terms and…
- 8-142 · Officers; titles, duties, selection, term; failure to elect;…
- 8-143 · Loans to employees and officers; guaranty of obligations of…
- 8-144 · Interested directors and officers; controlling stockholder…
- 8-145 · Indemnification of officers, directors, employees and agents;…
- 8-146 · Submission of matters for stockholder vote
- 8-147 · Authorization of agreements and other instruments [For…
- 8-151 · Classes and series of stock; redemption; rights
- 8-152 · Issuance of stock; lawful consideration; fully paid stock
- 8-153 · Consideration for stock
- 8-154 · Determination of amount of capital; capital, surplus and net…
- 8-155 · Fractions of shares
- 8-156 · Partly paid shares