Montana Code Annotated 2021

TITLE 72. ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

CHAPTER 38. MONTANA UNIFORM TRUST CODE

Part 8. Duties and Powers of Trustee

Restrictions On Trustees Under Charitable Trust, Private Foundations, Or Split-Interest Trust

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.