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Maryland Code, Corporations and Associations § 5-404

Current as of January 01, 2025 | Updated by Findlaw Staff

The provisions of §§ 5-402 and 5-403 of this subtitle do not apply to any private foundation to the extent that a court of competent jurisdiction, under a judicial proceeding begun by the private foundation before January 1, 1972, determines that:

(1) The application of these sections is contrary to the terms of the charter or other instrument governing the private foundation or the administration of charitable funds held by it; and

(2) The charter or other governing instrument may not properly be changed to conform to these sections.

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Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 5-404 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-5-404/

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