enforce a gift instrument related to assets held by a
nonprofit corporation for a charitable purpose may be brought
by the donor during the donor's lifetime or at any time by
the Office of the Attorney General, by a charitable
organization expressly named in the gift instrument to
receive any portion of the assets governed by the gift
instrument or by any other person having standing to do so,
which may include anyone appointed in the gift instrument.
(2) This subsection shall only apply during calendar
years 2020, 2021 and 2022, or for the corporation's fiscal
years that end during those calendar years.
* * *
SECTION 2. TITLE 15 IS AMENDED BY ADDING A SECTION TO READ:
§ 5548.1. NONJUDICIAL SETTLEMENT AGREEMENT.
NOTWITHSTANDING SECTION 5547(B) (RELATING TO AUTHORITY TO
TAKE AND HOLD TRUST PROPERTY):
(1) EXCEPT AS EXPRESSLY PROVIDED IN THE GIFT INSTRUMENT
AND AS OTHERWISE PROVIDED IN PARAGRAPH (2), IF THE DONOR
PLACED RESTRICTIONS ON THE USE OR MANAGEMENT OF PROPERTY
TRANSFERRED TO A NONPROFIT CORPORATION, THE DONOR OR ANYONE
THE DONOR APPOINTED FOR THE PURPOSE IN THE GIFT INSTRUMENT,
OR THE GUARDIAN OF THE DONOR'S PROPERTY, THE AGENT UNDER THE
DONOR'S FINANCIAL POWER OF ATTORNEY OR THE DONOR'S PERSONAL
REPRESENTATIVE, TOGETHER WITH THE NONPROFIT CORPORATION
HOLDING THE PROPERTY, MAY ENTER INTO A BINDING NONJUDICIAL
SETTLEMENT AGREEMENT DURING CALENDAR YEARS 2020, 2021 AND
2022, OR THE NONPROFIT CORPORATION'S FISCAL YEARS THAT END
DURING THOSE CALENDAR YEARS WITH RESPECT TO ANY MATTER
INVOLVING THE PROPERTY, INCLUDING A RESTRICTION.
(2) A NONJUDICIAL SETTLEMENT AGREEMENT IS VALID ONLY TO
20200HB2484PN3880 - 5 -
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