Current through the 2024 Legislative Session
Section 554D-110 - Others treated as qualified beneficiaries(a) A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this chapter if the charitable organization, on the date the charitable organization's qualification is being determined: (1) Is a distributee or permissible distributee of trust income or principal;(2) Would be a distributee or permissible distributee of trust income or principal upon the termination of the interests of other distributees or permissible distributees then receiving or eligible to receive distributions; or(3) Would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.(b) A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose, as provided in section -408 or -409, has the rights of a qualified beneficiary under this chapter.(c) The attorney general of this State has the rights of a qualified beneficiary with respect to a charitable trust having its principal place of administration in this State.Added by L 2021, c 32,§ 2, eff. 1/1/2022.