California · Probate Code

PROB §16101: 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

What this law says, in plain English

During periods when a trust qualifies as charitable or a private foundation, the trustee must distribute income annually and principal when needed at specified times and manner.

Read the full statutory text
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.

Verify at the official source: California legislative text

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