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North Carolina General Statutes Chapter 36C. North Carolina Uniform Trust Code § 36C-4-405. Charitable purposes

Current as of January 01, 2023 | Updated by FindLaw Staff

(a) A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, scientific, benevolent, literary, governmental, or municipal purposes, or other purposes the achievement of which is beneficial to the community.

(b) It is the policy of the State that a gift for charitable purposes, whether in trust or otherwise, is valid, notwithstanding the fact that the gift is made in general terms, and this section shall be construed liberally to effect this policy.

(c) No gift for charitable purposes, whether in trust or otherwise, is void or invalid because:

(1) The gift is in general terms or is uncertain as to the specific charitable purposes;

(2) When the gift is made in trust, the trustee is granted discretionary powers in the selection and designation of the beneficiaries of that charitable trust or in carrying out the purpose of that trust;

(3) The trustee or other recipient of the gift is given no specific instructions, powers, or duties as to the manner or means of carrying out those charitable purposes; or

(4) The gift contravenes any statute or rule against perpetuities.

(d) When any gift is made in general terms, the trustee or other recipient of the gift may:

(1) Select from time to time one or more specific charitable beneficiaries or purposes for which any trust or property or income is held and administered; and

(2) Determine the means to accomplish those charitable purposes, unless otherwise provided, including the creation of corporations or other legal entities for those purposes.

(e) For purposes of this section, the reference to a “gift” includes both inter vivos and testamentary gifts, grants, and other transfers.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 36C. North Carolina Uniform Trust Code § 36C-4-405. Charitable purposes - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-36c-north-carolina-uniform-trust-code/nc-gen-st-sect-36c-4-405/

Read this complete North Carolina General Statutes Chapter 36C. North Carolina Uniform Trust Code § 36C-4-405. Charitable purposes on Westlaw

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