Utah Code Title 16. Corporations § 16-6a-116. Private foundations

(1) shall make distributions for each taxable year at the time and in the manner as not to subject the nonprofit corporation to tax under Section 4942, Internal Revenue Code;  2

(2) may not engage in any act of self-dealing as defined in Section 4941(d), Internal Revenue Code;  3

(3) may not retain any excess business holdings as defined in Section 4943(c), Internal Revenue Code;  4

(4) may not make any investments that would subject the nonprofit corporation to taxation under Section 4944, Internal Revenue Code;  5 and

(5) may not make any taxable expenditures as defined in Section 4945(d), Internal Revenue Code.  6