2005 Idaho Code - 68-1202 — PROVISIONS PROHIBITED IN TRUST INSTRUMENTS

                                  TITLE  68
                            TRUSTS AND FIDUCIARIES
                                  CHAPTER 12
                           PRIVATE FOUNDATIONS AND
                              CHARITABLE TRUSTS
    68-1202.  PROVISIONS PROHIBITED IN TRUST INSTRUMENTS. The trust instrument
of each trust to which this act applies shall be deemed to contain provisions
prohibiting the trustee from:
    (a)  Engaging in any act of "self-dealing" (as defined in section 4941(d)
of the Internal Revenue Code of 1986), which would give rise to any liability
for the tax imposed by section 4941(a) of the Internal Revenue Code of 1986;
    (b)  Retaining any "excess business holdings" (as defined in section
4943(c) of the Internal Revenue Code of 1986), which would give rise to any
liability for the tax imposed by section 4943(a) of the Internal Revenue Code
of 1986;
    (c)  Making any investments which would jeopardize the carrying out of any
of the exempt purposes of the trust, within the meaning of section 4944 of the
Internal Revenue Code of 1986, so as to give rise to any liability for the tax
imposed by section 4944(a) of the Internal Revenue Code of 1986; and
    (d)  Making any "taxable expenditures" (as defined in section 4945(d) of
the Internal Revenue Code of 1986), which would give rise to any liability for
the tax imposed by section 4945(a) of the Internal Revenue Code of 1986;
    Provided, that this section shall not apply either to those split-interest
trusts or to amounts thereof which are not subject to the prohibitions
applicable to private foundations by reason of the provisions of section 4947
of the Internal Revenue Code of 1986.

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