H2484B3804A05968 DMS:JSL 05/27/20 #90 A05968
AMENDMENTS TO HOUSE BILL NO. 2484
Sponsor: REPRESENTATIVE WHITE
Printer's No. 3804
Amend Bill, page 1, line 6, by inserting after "funds"
and providing for nonjudicial settlement agreement
Amend Bill, page 1, line 12, by striking out "AND (D)"
Amend Bill, page 1, line 13, by striking out "ARE" and
inserting
is
Amend Bill, page 1, lines 13 and 14, by striking out "AND THE
SECTION IS AMENDED BY ADDING SUBSECTIONS"
Amend Bill, page 4, lines 11 through 30; page 5, lines 1
through 30; page 6, lines 1 through 3; by striking out all of
said lines on said pages
Amend Bill, page 6, by inserting between lines 4 and 5
Section 2. Title 15 is amended by adding a section to read:
ยง 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
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the extent it includes terms and conditions that the court
could approve under this chapter or other applicable law, and
that the property remains committed to a charitable purpose
or purposes.
(3) A nonprofit corporation may request, during calendar
years 2020, 2021 and 2022, or the nonprofit corporation's
fiscal years that end during those calendar years, the court
to review a nonjudicial settlement agreement in order to
determine whether the agreement contains terms and conditions
the court could have approved.
(4) A proceeding commenced during calendar years 2020,
2021 and 2022, or the nonprofit corporation's fiscal years
that end during those calendar years, to enforce a gift
instrument related to assets held by a nonprofit corporation
for a charitable purpose, whether or not subject to a
nonjudicial settlement agreement, 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 and nonjudicial settlement
agreement, if applicable, to receive any portion of the
assets governed by the gift instrument and nonjudicial
settlement agreement, if applicable, or by any other person
having standing to do so, which may include anyone appointed
in the gift instrument.
Amend Bill, page 6, line 5, by striking out "2" and inserting
3
Amend Bill, page 7, line 28, by striking out "3" and
inserting
4
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