Section 5. Each corporation which is a ''private foundation'' as defined in section 509 of said Code shall distribute, for the purposes specified in its articles of organization, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by section 4942(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