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Georgia State Code
Title      53
Chapter      12  
Section Navigation     1 ... 22         23 ... 53    
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Section<<< 114 115 116 120 121 122 123 124 125 126 >>>  
Title 53, Chapter 12, Section 116 (53-12-116)

(a) As used in this Code section, the term "charitable trust" means a charitable trust which conforms to the definition of a private foundation set forth in Section 509 of the Internal Revenue Code.

(b) As used in this Code section, the term "trustee" means the trustee of a charitable trust.

(c) The state revenue commissioner shall be authorized to supervise the administration of charitable trusts in the manner set forth in this Code section.

(d) Every trustee of a charitable trust shall file with the state revenue commissioner a copy of the annual return filed by the trustee with the Internal Revenue Service, as required by Section 6033 of the Internal Revenue Code, or a copy of the annual report filed by the trustee with the Internal Revenue Service, as required by Section 6056 of the Internal Revenue Code.

(e) At any time the state revenue commissioner deems an audit of the financial records and accounts of a charitable trust to be necessary, the commissioner shall notify the trustee in writing, and the audit shall immediately be undertaken by a certified public accountant to be selected jointly by the commissioner and the trustee. In the event agreement cannot be reached upon selection of a certified public accountant within ten days of receipt by the trustee of the notice provided for in this subsection, either party may request the selection of a certified public accountant for such purposes by the State Board of Accountancy. Expenses and fees incurred in the preparation of an audit shall be deemed valid expenses chargeable against the affected trust.

(f) The state revenue commissioner may investigate transactions and relationships of the trustees of charitable trusts subject to this Code section for the purpose of determining whether the property held for charitable purposes is properly administered. The commissioner may require any agent, trustee, fiduciary, beneficiary, institution, association, corporation, or other person to appear at a named time and place in the county designated by him, where the person resides or is found, to give information under oath and to produce books, memoranda, papers, documents of title, and evidence of assets, liability, receipts, or disbursements in the possession or control of the person ordered to appear.

(g) When the state revenue commissioner requires the attendance of any person, as provided in subsection (f) of this Code section, the commissioner shall issue an order setting forth the time when and the place where attendance is required and shall cause the same to be served in person or by registered or certified mail or statutory overnight delivery upon the person at least 14 days before the date fixed for attendance. The order shall have the same force and effect as a subpoena and, upon application of the commissioner, obedience to the order may be enforced by any court having jurisdiction of charitable trusts in the county where the person receiving it resides or is found, in the same manner as though the notice were a subpoena. The court may, in case of contumacy or refusal to obey the order issued by the commissioner, issue an order requiring the person to appear before the commissioner or to produce documentary evidence, if so ordered, or to give evidence touching the matter in question; and any failure to obey the order of the court may be punished by that court as a contempt upon itself. The investigation or hearing provided for in subsection (f) of this Code section may be made by or before a person designated by the commissioner to conduct the investigation or hearing in his behalf. Witnesses ordered to appear shall be paid the same fees and mileage as are paid witnesses in the superior courts of this state. The commissioner or his designated representative acting in his behalf is empowered to administer the necessary oath or affirmation to witnesses.

(h) The state revenue commissioner may institute appropriate proceedings to secure compliance with this Code section, to correct improper administration of a charitable trust, and to invoke the jurisdiction of the court.

(i) The powers and duties of the state revenue commissioner provided in this Code section are in addition to his existing powers and duties. Nothing in this Code section shall impair or restrict the jurisdiction of any court with respect to any of the matters covered by it, except that no court shall have jurisdiction to modify or terminate any charitable trust subject to this Code section unless the state revenue commissioner is a party to the proceedings.

(j) This Code section shall not apply to any charitable trust which holds property for religious purposes or any agent, officer, director, trustee, or employee of any religious corporation sole or other religious corporation.

Saturday May 23 12:09 EDT


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