Section 4. No corporation which is a ''private foundation'' as defined in section 509 of said Code, shall
(a) engage in any act of ''self-dealing'' (as defined in section 4941(d) of said Code), which would give rise to any liability for the tax imposed by section 4941(a) of said Code;
(b) retain any ''excess business holdings'' (as defined in section 4943(c) of said Code), which would give rise to any liability for the tax imposed by section 4943(a) of said Code;
(c) make any investment which would jeopardize the carrying out of any of its exempt purposes, within the meaning of section 4944 of said Code, so as to give rise to any liability for the tax imposed by section 4944(a) of said Code; or
(d) make any ''taxable expenditures'' (as defined in section 4945(d) of said Code) which would give rise to any liability for the tax imposed by section 4945(a) of said Code.
Structure Massachusetts General Laws
Part I - Administration of the Government
Title XI - Certain Religious and Charitable Matters
Section 1 - Prohibited Acts of Trusts
Section 2 - Distributions of Trusts
Section 3 - Applicability of Secs. 1 and 2
Section 4 - Prohibited Acts of Corporations
Section 5 - Distributions of Corporations
Section 6 - Applicability of Secs. 4 and 5
Section 7 - Rights and Powers of Courts and Attorney General Unimpaired