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Idaho Statutes Title 48. Monopolies and Trade Practices § 48-1914. Charitable assets recovered--Cy pres--Restitution recovered

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) Any charitable assets sued for and recovered by the attorney general under this chapter shall be conveyed:

(a) To the injured charitable organization to restore its misappropriated, lost, or diverted charitable assets; or

(b) To any charitable organization with a similar charitable purpose as that of the charitable organization from which the charitable assets were recovered, pursuant to a court-approved cy pres distribution.

(2) Any restitution sued for and recovered by the attorney general under this chapter shall be deposited and held in the state treasury until such time as the attorney general directs that payment be made to a person to reimburse for any actual damages he incurred as a direct result of a violation of this chapter.

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Cite this article: FindLaw.com - Idaho Statutes Title 48. Monopolies and Trade Practices § 48-1914. Charitable assets recovered--Cy pres--Restitution recovered - last updated January 01, 2024 | https://codes.findlaw.com/id/title-48-monopolies-and-trade-practices/id-st-sect-48-1914/

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