Charitable Trusts: Hearing, Ninety-second Congress, First Session on H.R. 9172 and H.R. 10790 ...

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Page 16 - To make and alter by-laws, not inconsistent with its articles of incorporation or with the laws of this State, for the administration and regulation of the affairs of the corporation.
Page 15 - To purchase, take, receive, subscribe for, or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of, and otherwise use and deal in and with, shares or other interests in, or obligations of, other domestic or foreign corporations...
Page 8 - THE IMPACT OF THE TAX REFORM ACT OF 1969 The Tax Reform Act of 1969 has considerably increased the domestic oil industry's tax burden, both in relation to previous years and in relation to other industries most of which were less significantly affected by the Act. In part, the impact is reflected in the $185 million increase in the federal income tax liability of our...
Page 20 - FOUNDATIONS," to regulate the activities of any corporation which is a private foundation as defined in Section 509(a) of the Internal Revenue Code...
Page 17 - To purchase, take, receive, lease, take by gift, devise or bequest, or otherwise acquire, own, hold, improve, use and otherwise deal in and with real or personal property, or any interest therein, wherever situated 5.
Page 17 - To have a corporate seal which may be altered at pleasure, and to use the same by causing it, or a facsimile thereof, to be impressed or affixed or in any other manner reproduced.
Page 42 - ... organizations subject to the Internal Revenue Code, the Commissioner suggests that the Committee may also wish to seek the views of the Secretary of the Treasury. Sincerely yours, GRAHAM W. WATT, Assistant to the Commissioner. WALTER E.
Page 16 - To make contracts and guarantees and incur liabilities, borrow money at such rates of interest as the corporation may determine, issue its notes, bonds, and other obligations, and secure any of its obligations by mortgage or pledge of all or any of its property, franchises and income.
Page 21 - And be it further enacted, That this Act is hereby declared to be an emergency measure and necessary for the immediate preservation of the public health and safety, and having been passed by a yea and nay vote supported by three-fifths of the members elected to each of the two Houses of the General Assembly, the same shall take effect fiom the date of its passage.
Page 12 - Code; 2. 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; 3.

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