Louisiana § RS 12:237.1 - Amendment of articles; special provision
Full text of Louisiana Louisiana Civil Code § RS 12:237.1 — Amendment of articles; special provision, with citation guidance and answers to common questions.
§ RS 12:237.1. Amendment of articles; special provision
A. Notwithstanding any provision in this Section or in the articles of incorporation to the contrary (except as provided in Subsection B of this Section), the articles of incorporation of each corporation that is a private foundation described in Section 509 of the Internal Revenue Code of 19541 shall be deemed to contain the following provisions: The corporation shall make distributions at such time and in such manner as not to subject it to tax under Section 4942 of the Code;2 the corporation shall not engage in any act of self-dealing that would subject it to tax under Section 4941 of the Code;3 the corporation shall not retain any excess business holdings that would subject it to tax under Section 4943 of the Code;4 the corporation shall not make any investments that would subject it to tax under Section 4944 of the Code;5 and the corporation shall not make any taxable expenditures that would subject it to tax under Section 4945 of the Code.6 With respect to any such corporation organized prior to January 1, 1970, this Subsection shall apply only for its taxable years beginning on or after January 1, 1972.
B. The articles of incorporation of any corporation described in Subsection A of this Section may be amended to expressly exclude the application of Subsection A of this Section, and in the event of such amendment, Subsection A of this Section shall not apply to such corporation.
C. All references in this Section to the "Code" are to the Internal Revenue Code of 1954, and all references in this Section to specific sections of the Code include corresponding provisions of any subsequent federal tax laws.
Added by Acts 1971, No. 154, §2.
126 U.S.C.A. (I.R.C.1954) §509.
226 U.S.C.A. (I.R.C.1954) §4942.
326 U.S.C.A. (I.R.C.1954) §4941.
426 U.S.C.A. (I.R.C.1954) §4943.
526 U.S.C.A. (I.R.C.1954) §4944.
626 U.S.C.A. (I.R.C.1954) §4945.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 12:237.1
What does Louisiana Civil Code § RS 12:237.1 cover?
Section RS 12:237.1 ("Amendment of articles; special provision") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 12:237.1?
A common citation format is "Louisiana Civil Code § RS 12:237.1" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 12:237.1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.