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2019 Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 38. Montana Uniform Trust Code
Part 8. Duties and Powers of Trustee
72-38-822. Restrictions on trustees under charitable trust, private foundations, or split-interest trust
Universal Citation: MT Code § 72-38-822 (2019)
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.
History: En. Sec. 107, Ch. 264, L. 2013.
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