35-9-102 - Distribution of amounts to avoid tax liability. - Tennessee Statutes

35-9-102. Distribution of amounts to avoid tax liability.

In the administration of any trust that is a private foundation or that is a charitable trust, there shall be distributed, for the purposes specified in the trust instrument, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by § 4942(a) of the Internal Revenue Code of 1954.

[Acts 1971, ch. 3, § 2; T.C.A., § 35-1002.]