(a) On and after January 1, 2025, or upon the regulations provided for in subdivision (b) taking effect, whichever occurs first, a trustee holding assets subject to a charitable trust shall give written notice to the Attorney General at least 20 days before the trustee sells, leases, conveys, exchanges, transfers, or otherwise disposes of all or substantially all of the charitable assets.

(b) On or after January 1, 2022, the Attorney General shall establish rules and regulations necessary to administer this section.

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Terms Used In California Probate Code 16110

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Trust: includes the following:

    California Probate Code 82

  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court. See California Probate Code 84

(Added by renumbering Section 16106 by Stats. 2023, Ch. 478, Sec. 60. (AB 1756) Effective January 1, 2024.)

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