Georgia § 53-12-191 Automatic amendment of governing instrument of private foundation trust or charitable trust as to distribution of trust funds

Georgia Statutes

§ 53-12-191 — Automatic amendment of governing instrument of private foundation trust or charitable trust as to distribution of trust funds

Georgia § 53-12-191

Title53

This text of Georgia § 53-12-191 (Automatic amendment of governing instrument of private foundation trust or charitable trust as to distribution of trust funds) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 53-12-191 (2026).

Text

Notwithstanding any provision therein to the contrary and except as provided in Code Section 53-12-192 , the governing trust instrument of any trust which is a private foundation or which is a charitable trust, as defined in Section 4947(a)(1) of the federal Internal Revenue Code, shall be amended automatically as of the later of the inception of the trust or January 1, 1972, to include a provision which requires the trustees to distribute, for the purposes specified in the governing trust instrument, for each taxable year, amounts at least sufficient to avoid any liability for the tax imposed by Section 4942 of the federal Internal Revenue Code.

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Notwithstanding any provision therein to the contrary and except as provided in Code Section 53-12-192 , the governing trust instrument of any trust which is a private foundation or which is a charitable trust, as defined in Section 4947(a)(1) of the federal Internal Revenue Code, shall be amended automatically as of the later of the inception of the trust or January 1, 1972, to include a provision which requires the trustees to distribute, for the purposes specified in the governing trust instrument, for each taxable year, amounts at least sufficient to avoid any liability for the tax imposed by Section 4942 of the federal Internal Revenue Code.