MARVIN MANDEL, Governor

221

PURPOSES OF THE TRUST, WITHIN THE MEANING OF §4944 OF
THE INTERNAL REVENUE CODE OF 1954, SO AS TO GIVE RISE TO
ANY LIABILITY FOR THE TAX IMPOSED BY §4944(A) OF THE
INTERNAL REVENUE CODE OF 1954.

(E)   TAXABLE EXPENDITURES.

IT IS UNLAWFUL TO MAKE ANY "TAXABLE EXPENDITURES" AS
DEFINED IN §4945(D) OF THE INTERNAL REVENUE CODE OF 1954
WHICH GIVE RISE TO ANY LIABILITY FOR THE TAX IMPOSED BY
§4945(A) OF THE INTERNAL REVENUE CODE OF 1954.

(F)   EXCEPTION.

THIS SECTION DOES NOT APPLY TO ANY PART OF A

SPLIT-INTEREST TRUST WHICH IS NOT SUBJECT TO THE

PROHIBITIONS APPLICABLE TO PRIVATE FOUNDATIONS BECAUSE OF

THE PROVISIONS OF §4947 OF THE INTERNAL REVENUE CODE OF
1954.

REVISOR'S NOTE: This section presently appears as
Art. 16, §199D. It is divided into two
additional subsections for organizational
purposes. The only other changes are in style
and language.

14-304. AMENDMENT OF INSTRUMENT TO CONFORM.

NOTWITHSTANDING ANY PROVISIONS TO THE CONTRARY IN
THE GOVERNING INSTRUMENT, THE TRUSTEE OF TRUSTEES OF ANY
CHARITABLE REMAINDER TRUST CREATED AFTER JULY 31, 1969
WITH THE CONSENT OF EACH BENEFICIARY NAMED IN THE
GOVERNING INSTRUMENT, WITHOUT APPLICATION TO ANY COURT,
MAY AMEND THE GOVERNING INSTRUMENT TO CONFORM TO THE
PROVISION OF §664 OF THE INTERNAL REVENUE CODE OF 1954 BY
EXECUTING A WRITTEN AMENDMENT TO THE TRUST FOR THE
PURPOSE. CONSENT IS NOT REQUIRED AS TO INDIVIDUAL NAMED
BENEFICIARIES NOT LIVING AT THE TIME OF AMENDMENT. IN
THE CASE OF AN INDIVIDUAL BENEFICIARY NOT COMPETENT TO
GIVE CONSENT, THE CONSENT OF A GUARDIAN, APPOINTED BY A
COURT OF COMPETENT JURISDICTION, SHALL BE TREATED AS
CONSENT OF THE BENEFICIARY. IN THE CASE OF ANY AMENDMENT
TO A TRUST CREATED BY WILL, THE AMENDMENT, IF PROVIDED IN
THE AMENDMENT MAY BE CONSIDERED TO APPLY AS OF THE DATE
OF DEATH OF THE TESTATOR.

REVISOR'S NOTE: This section presently appears as
Art. 16, §199D—1. The only changes are in
style.

14-305. DISTRIBUTIONS.

IN THE ADMINISTRATION OF ANY TRUST WHICH IS A
"PRIVATE FOUNDATION" AS DEFINED IN § 505 OF THE INTERNAL