Connecticut General Statutes 45a-499hh – Limitation on court authority to apply cy pres
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A provision in the terms of a charitable trust that would result in distribution of the trust property to a noncharitable beneficiary prevails over the power of the court under § 45a-499gg to apply cy pres to modify or terminate the trust only if, when the provision takes effect: (1) Except as provided in § 45a-505, the trust property is to revert to the settlor and the settlor is living; or (2) fewer than twenty-one years have elapsed since the date of the trust’s creation.
Terms Used In Connecticut General Statutes 45a-499hh
- Charitable trust: means a trust, or part of a trust, created (A) for a charitable purpose described in §. See Connecticut General Statutes 45a-499c
- Court: means a court of this state having jurisdiction over the matter pursuant to sections 45a-499o and 45a-499p or a court of another state having jurisdiction under the law of the other state. See Connecticut General Statutes 45a-499c
- Property: means anything that may be the subject of ownership, whether real or personal and whether legal or equitable, or any interest therein. See Connecticut General Statutes 45a-499c
- Settlor: means a person, including a testator, that creates or contributes property to a trust. See Connecticut General Statutes 45a-499c