CODE OF VIRGINIA

APPLICATION OF §§ 64.2-737 AND 64.2-738 (§ 64.2-739)

Sections 64.2-737 and 64.2-738 shall apply to any private foundation, charitable
trust, or split-interest trust defined or described therein and established
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 the exceptions provided in
§ 508(e)(2)(A) or (B) of the Internal Revenue Code shall apply or unless the
trustee or trustees shall elect that this section shall not apply by filing
written notice of such election with the Attorney General, and with the clerk of
the court in which its governing instrument may be recorded, on or before
December 31, 1971.

HISTORY: 2005, c. 935, § 55-544.21; 2012, c. 614.