Mississippi § 91-9-401 - Prohibited acts.
Full text of Mississippi Mississippi Code of 1972 Annotated § 91-9-401 — Prohibited acts., with citation guidance and answers to common questions.
§ 91-9-401. Prohibited acts.
In the administration of any trust which is a “private foundation,” as defined in Section 509 of the United States Internal Revenue Code, a “charitable trust,” as defined in Section 4947(a)(1) of the United States Internal Revenue Code, or a “split-interest trust,” as defined in Section 4947(a)(2) of the United States Internal Revenue Code, the following acts shall be prohibited: Engaging in any act of “self-dealing,” as defined in Section 4941(d) of the United States Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4941(a) of the United States Internal Revenue Code; Retaining any “excess business holdings,” as defined in Section 4943(c) of the United States Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4943(a) of the United States Internal Revenue Code; Making any investments which would jeopardize the carrying out of any of the exempt purposes of the trust, within the meaning of Section 4944 of the United States Internal Revenue Code, so as to give rise to any liability for the tax imposed by Section 4944(a) of the United States Internal Revenue Code; and Making any “taxable expenditures,” as defined in Section 4945(d) of the United States Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4945(a) of the United States Internal Revenue Code. This section shall not apply either to those split-interest trusts or to amounts thereof which are not subject to the prohibitions applicable to private foundations by reason of the provisions of Section 4947 of the United States Internal Revenue Code.
Frequently Asked Questions About Mississippi § 91-9-401
What does Mississippi Code of 1972 Annotated § 91-9-401 cover?
Section 91-9-401 ("Prohibited acts.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. 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 Mississippi § 91-9-401?
A common citation format is "Mississippi Code of 1972 Annotated § 91-9-401" (Mississippi). 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 Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 91-9-401 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi 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 Mississippi.