Mont. Code § 72-38-822

Current through the 2023 Regular Session

Section 72-38-822 - Restrictions on trustees under charitable trust, private foundations, or split-interest trust

During any period when a trust is considered to be a charitable trust, a private foundation, or a split-interest trust, the trustee may not do any of the following:

(1) engage in any act of self-dealing as defined in section 4941(d) of the Internal Revenue Code;

(2) retain any excess business holdings as defined in section 4943(c) of the Internal Revenue Code;

(3) make any investments in a manner that subjects the property of the trust to tax under section 4944 of the Internal Revenue Code; or

(4) make any taxable expenditure as defined in section 4945(d) of the Internal Revenue Code.

§ 72-38-822, MCA

Added by Laws 2013, Ch. 264, Sec. 107, eff. 10/1/2013.