This chapter shall apply only to trusts which are private foundations as defined in section 509 of the Internal Revenue Code , 1 charitable trusts as described in section 4947(a) (1) of the Internal Revenue Code , or split-interest trusts as described in section 4947(a) (2) of the Internal Revenue Code . With respect to any such trust created after December 31, 1969, this chapter shall apply from such trust's creation. With respect to any such trust created before January 1, 1970, this chapter shall apply only to such trust's federal taxable years beginning after December 31, 1971.
FindLaw Codes are provided courtesy of Thomson Reuters Westlaw, the industry-leading online legal research system. For more detailed codes research information, including annotations and citations, please visit Westlaw.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.