(A) “Charitable trust” means any fiduciary relationship with respect to property arising under the law
of this state or of another jurisdiction as a result of a manifestation of intention
to create it, and subjecting the person by whom the property is held to fiduciary
duties to deal with the property within this state for any charitable, religious,
or educational purpose.
(B) “Charitable trust” includes the fiduciary relationship, the entity serving as trustee, the status as
trustee, the corpus of such trust, or a combination of any or all of such meanings,
regardless of the primary meaning of any use of the term, that is necessary in any
circumstances to effect the purposes of such sections.
(C) An executor, administrator, guardian, or other conservator of the estate of a
decedent, incompetent, or other similarly protected person is, when holding assets
in which a charitable trust has a vested or contingent interest and to the extent
that such sections are not clearly inapplicable, to be considered a fiduciary of a
(D) The fact that any person sought to be charged with fiduciary duties is a corporation,
association, foundation, or any other type of organization that has, under judicial
decisions or other statutes, been distinguished from a charitable trust does not provide
a presumption against its being a charitable trust as defined in this section.
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