55-544.21 - Application of §§ 55-544.19 and 55-544.20. - Virginia Statutes

§ 55-544.21. Application of §§ 55-544.19 and 55-544.20.

Sections 55-544.19 and 55-544.20 shall apply to any private foundation,charitable trust or split-interest trust defined or described therein andestablished after December 31, 1969; and to any such private foundation,charitable trust or split-interest trust established before January 1, 1970,only for its taxable years beginning on and after January 1, 1972, unless theexceptions provided in § 508 (e) (2) (B) or (C) of the Internal Revenue Codeshall apply or unless the trustee or trustees shall elect that this sectionshall not apply by filing written notice of such election with the AttorneyGeneral, and with the clerk of the court in which its governing instrumentmay be recorded, on or before December 31, 1971.

(2005, c. 935.)