§ 5–403
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 5-403 (2026)
Title 5. Special Types of Corporations
Subtitle 4. Private Foundations
§ 5–403LinkCopy Citation
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.