Maryland § 14-303
Full text of Maryland Maryland Code § 14-303, with citation guidance and answers to common questions.
§ 14-303.
(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.
(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.
(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.
(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.
(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.
(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.
Frequently Asked Questions About Maryland § 14-303
What does Maryland Code § 14-303 cover?
Section 14-303 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 14-303?
A common citation format is "Maryland Code § 14-303" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 14-303 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.