Title 53, Chapter 12, Section 121
( 53-12-121)
Any corporation which is a private foundation, as defined in Section 509 of the Internal Revenue Code, may amend its articles of incorporation expressly to exclude the application of Code Section 53-12-120 or any portion thereof in the manner provided by Article 10 of Chapter 2 of Title 14 or Article 8 of Chapter 3 of Title 14, whichever is applicable. |