---
title: O.C.G.A. § 53-12-180. Automatic amendment of articles of incorporation of corporate private foundation.
collection: code
id: 53-12-180
cite_as: O.C.G.A. § 53-12-180 (2025)
canonical_url: https://georgiacommons.org/code/53-12-180
md_url: https://georgiacommons.org/code/53-12-180.md
text_url: https://georgiacommons.org/code/53-12-180/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t52-t53-(v40)-2021-pdf.pdf?sfvrsn=d23ba203_0#page=856
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES / TRUSTS / PRIVATE FOUNDATIONS / CORPORATIONS
---

# O.C.G.A. § 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:

(1) Not engage in any act of self-dealing, as defined in Section 4941(d) of the federal Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4941 of the federal Internal Revenue Code;

(2) Not retain any excess business holdings, as defined in Section 4943(c) of the federal Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4943 of the federal Internal Revenue Code;

(3) Not make any investments which would jeopardize the carrying out of any of the exempt purposes of the corporation, within the meaning of Section 4944 of the federal Internal Revenue Code, so as to give rise to any liability for the tax imposed by Section 4944 of the federal Internal Revenue Code;

(4) Not make any taxable expenditures, as defined in Section 4945(d) of the federal Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4945 of the federal Internal Revenue Code; and

(5) Distribute for the purpose specified in its articles of incorporation for each taxable year amounts at least sufficient to avoid any liability for the tax imposed by Section 4942 of the federal Internal Revenue Code.

## History

Code 1981, § 53-12-180, enacted by Ga. L. 2010, p. 579, § 1/SB 131.