§ 5-403. Distributions

Latest version.

For each taxable year, a private foundation shall distribute for the purposes specified in its charter amounts sufficient to avoid tax liability under § 4942(a) of the Internal Revenue Code.

HISTORY: An. Code 1957, art. 23, § 446; 1975, ch. 311, § 2; 1976, ch. 90; 1988, ch. 110, § 1.

                    
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