§ 15:19-1 — Definitions

As used in this act: (a) "code" means the Internal Revenue Code of 1954 as amended; (b) "private foundation trust" means a charitable trust administered by a corporation as herein defined, and which is a private foundation described in section 509(a) of the code, including each nonexempt charitable trust described in section 4947(a)(1) of the code which is treated as a private foundation; (c) "corporation" means a corporation organized under Title 15 of the Revised Statutes or under any other law of this State applicable to corporations not for profit, to function as a private foundation trust. L.1971, c. 337, s. 1, eff. Dec. 13, 1971.