Any ecclesiastical society which is not a religious society as defined in § 33-264a or which is not an ecclesiastical society under part II of this chapter and any cemetery association or library association organized for mutual or public benefit and not for the purpose of deriving financial profit from the operations thereof, shall have the power to receive and hold funds in any amount derived by gift or devise, provided the uses of any such fund and of the income therefrom are, by the terms of such gift or devise, limited to the purposes for which such ecclesiastical society, cemetery association or library association was organized.

Terms Used In Connecticut General Statutes 33-264g

  • Devise: To gift property by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.