MARVIN MANDEL, Governor

811

direction and control of the court, and the payment of a
claim as approved by court order shall protect and
indemnify the personal representative acting in obedience
to it. The order is subject to appeal.

14-303.

(b)    It is unlawful to engage in any act of
"self-dealing", as defined in § 4941 (d) of the Internal
Revenue Code of 1954, which would [give rise to] CAUSE
any TAX liability [for the tax imposed by] UNDER § 4941
(a) of the Internal Revenue Code of 1954.

(c)    It is unlawful to retain any "excess business
holdings", as defined in § 4943 (c) of the Internal
Revenue Code of 1954, which would [give rise to] CAUSE
any TAX liability [for the tax imposed by] UNDER § 4943
(a) of the Internal Revenue Code of 1954.

(d)    It is unlawful to make any investment which
[ jeopardizes] WOULD JEOPARDIZE the carrying out of any
[of the] exempt purposes [of the trust, within the
meaning of] UNDER § 4944 of the Internal Revenue Code of
1954[, so as to give rise to] AND CAUSE any TAX liability
[for the tax imposed by] UNDER § 4944 (a) of the Internal
Revenue Code of 1954.

(e)    It is unlawful to make any "taxable
expenditures", as defined in § 4945 (d) of the Internal
Revenue Code of 1954, which [give rise to] WOULD CAUSE
any TAX liability [for the tax imposed by] UNDER § 4945
(a) of the Internal Revenue Code of 1954.

14-306.

The provisions of §§ [14-304] 14-303 and 14-305 of
this subtitle do not apply to any trust to the extent
that a court of competent jurisdiction determines that
the application would be contrary to the terms of the
instrument governing the trust and that it may not be
changed properly to conform to these sections.

14-307.

[The] SECTIONS 14-303 THROUGH 14-307 OF THIS

SUBTITLE DO NOT IMPAIR THE rights and powers of the
courts or the Attorney General with respect to any trust
[are not impaired by any provisions of §§ 14—303 through
14-309].

15-311.

This subtitle may be cited as the MARYLAND Uniform
Act for the Simplification of Fiduciary Security
Transfers.

SECTION 2. AND BE IT FURTHER ENACTED, That Section
14-308 of Article - Estates and Trusts, of the Annotated