SECTIONS 5260

5260.  Any other provision of law notwithstanding, everycorporation, during any period or periods such corporation is deemedto be a "private foundation" as defined in Section 509 of theInternal Revenue Code of 1954 as amended by Section 101 of the TaxReform Act of 1969 (all references in this section to the InternalRevenue Code shall refer to such code as amended by such act), shalldistribute its income for each taxable year (and principal, ifnecessary) at such time and in such manner as not to subject suchcorporation to tax under Section 4942 of such code, (as modified byparagraph 3 of subsection (1) of Section 101 of the Tax Reform Act of1969), and such corporation shall not engage in any act ofself-dealing as defined in subsection (d) of Section 4941 of suchcode (as modified by paragraph (2) of subsection (1) of Section 101of the Tax Reform Act of 1969), retain any excess business holdingsas defined in subsection (c) of Section 4943 of such code, make anyinvestments in such manner as to subject such corporation to taxunder Section 4944 of such code, or make any taxable expenditure asdefined in subsection (d) of Section 4945 of such code (as modifiedby paragraph (5) of subsection (1) of Section 101 of the Tax ReformAct of 1969). This section shall apply to any such corporation and any provisioncontained in its articles of incorporation or other governinginstrument inconsistent with this section or to the contrary thereofshall be without effect.