17-30-103. Governing law.
(a) This act governs:
(i) The internal affairs of a statutory foundation; and
(ii) The liability of a person as a founder or contributor of a statutory foundation for the debts, obligations or other liabilities of a statutory foundation.
(b) The transfer of property by a founder or a contributor to the statutory foundation, or any disposition made subject to the terms of the operating agreement of the foundation, shall not rendered ineffective for any reason, including the following:
(i) The law of a foreign jurisdiction prohibits or does not recognize the concept of a statutory foundation;
(ii) The statutory foundation, a transfer of property by a founder or a contributor to a foundation or a disposition made subject to the terms of the operating agreement of the foundation, avoids or defeats any forced heirship or legitime right, claim or interest under the law of a foreign jurisdiction.
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