California Law (Last Updated: March 4, 2014) |
Probate Code - PROB |
Division 9. TRUST LAW |
Part 4. TRUST ADMINISTRATION |
Chapter 1. Duties of Trustees |
ARTICLE 5. Duties of Trustees of Private Foundations, Charitable Trusts, and Split-Interest Trusts |
Section 16101.
Latest version.
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During any period when a trust is deemed to be a charitable trust or a private foundation, the trustee shall distribute its income for each taxable year (and principal if necessary) at a time and in a manner that will not subject the property of the trust to tax under Section 4942 of the Internal Revenue Code.
(Enacted by Stats. 1990, Ch. 79.)