§110. Others treated as qualified beneficiaries

1.  Charitable organization or person to enforce trust.  A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this Code if the charitable organization, on the date the charitable organization's qualification is being determined:

A. Is a distributee or permissible distributee of trust income or principal;   [PL 2005, c. 184, §7 (NEW).]

B. Would be a distributee or a permissible distributee of trust income or principal upon the termination of the interests of other distributees or permissible distributees then receiving or eligible to receive distributions; or   [PL 2005, c. 184, §7 (NEW).]

C. Would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.   [PL 2017, c. 39, §1 (AMD).]

A charitable organization whose interest in the trust as a contingent distributee of the trust income or principal is not reasonably expected to vest does not have the rights of a qualified beneficiary.

[PL 2017, c. 39, §1 (AMD).]

1-A.  Person appointed to enforce trust.  A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in section 408 or 409 has the rights of a qualified beneficiary under this Code.

[PL 2005, c. 184, §7 (NEW).]

2.  Attorney General.  The Attorney General has the rights provided in Title 5, section 194 with respect to a charitable trust having its principal place of administration in this State, but may not be treated as and does not have the rights of a qualified beneficiary.

[PL 2005, c. 184, §7 (AMD).]

SECTION HISTORY

PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF). PL 2005, c. 184, §7 (AMD). PL 2017, c. 39, §1 (AMD).