In the administration of any trust which is a “private foundation” as defined in § 509 of the Internal Revenue Code, or which is a “charitable trust” as defined in § 4947(a)(1) of the Internal Revenue Code, there shall be distributed, for the purposes specified in the trust instrument, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by § 4942(a) of the Internal Revenue Code.
Structure Maryland Statutes
Subtitle 3 - Charitable Trusts
Section 14-301 - General Enforcement
Section 14-302 - Maryland Uniform Charitable Trusts Administration Act
Section 14-303 - Prohibited Acts
Section 14-304 - Amendment of Instrument to Conform to Internal Revenue Code
Section 14-305 - Distributions
Section 14-306 - Judicial Determination Concerning Application of 14-303 and 14-305
Section 14-307 - Rights and Powers of Courts and Attorney General