{"data":{"id":"us-hi/haw.-rev.-stat.-414d-16","jurisdiction":"us-hi","citation":"Haw. Rev. Stat. § 414D-16","heading":"Private foundations.","body":"Except as otherwise determined by a court of competent jurisdiction, a corporation that is a private foundation as defined in section 509(a) of the Code:\n\n(1) Shall distribute such amounts for each taxable year at such time and in such manner as not to subject the corporation to tax under section 4942 of the Code;\n\n(2) Shall not engage in any act of self-dealing as defined in section 4941(d) of the Code;\n\n(3) Shall not retain any excess business holdings as defined in section 4943(c) of the Code;\n\n(4) Shall not make any investments in such manner as to subject the corporation to tax under section 4944 of the Code;\n\n(5) Shall not make any taxable expenditures as defined in section 4945(d) of the Code.","path":["HI Code","Division 2","Title 23","Chapter 414D"],"source_url":"http://www.capitol.hawaii.gov/hrscurrent/Vol08_Ch0401-0429/HRS0414D/HRS_0414D-0016.htm","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:11Z","sha256":"109c5c95733b0a97476ecfbedd72105470c0ae16b128c01cf70aa093b899a718","source_id":"us-hi","stale":false,"prev":"us-hi/haw.-rev.-stat.-414d-159","next":"us-hi/haw.-rev.-stat.-414d-160"},"notice":"GroundRules: Original legal text. Not legal advice."}