{"data":{"id":"us-md/md.-code-estates-and-trusts-14-303","jurisdiction":"us-md","citation":"Md. Code, Estates and Trusts § 14–303","heading":"","body":"(a) In the administration of any trust which is a “private foundation,” as defined in § 509 of the Internal Revenue Code, a “charitable trust,” as defined in § 4947(a)(1) of the Internal Revenue Code, or a “split–interest trust,” as defined in § 4947(a)(2) of the Internal Revenue Code, the acts specified in this section are prohibited.\n(b) It is unlawful to engage in any act of “self–dealing,” as defined in § 4941(d) of the Internal Revenue Code, which would cause any tax liability under § 4941(a) of the Internal Revenue Code.\n(c) It is unlawful to retain any “excess business holdings,” as defined in § 4943(c) of the Internal Revenue Code, which would cause any tax liability under § 4943(a) of the Internal Revenue Code.\n(d) It is unlawful to make any investment which would jeopardize the carrying out of any exempt purposes under § 4944 of the Internal Revenue Code and cause any tax liability under § 4944(a) of the Internal Revenue Code.\n(e) It is unlawful to make any “taxable expenditures,” as defined in § 4945(d) of the Internal Revenue Code, which would cause any tax liability under § 4945(a) of the Internal Revenue Code.\n(f) 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.","path":["Article - Estates and Trusts"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=get\u0026section=14-303","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:07Z","sha256":"c0c8975ec7bd7455f06c8daee85da9a9d8071c02d22aa6d8a44e42ec47eacb00","source_id":"us-md","stale":false,"prev":"us-md/md.-code-estates-and-trusts-14-302","next":"us-md/md.-code-estates-and-trusts-14-304"},"notice":"GroundRules: Original legal text. Not legal advice."}