Connecticut General Statutes 45a-499z – Charitable purposes; enforcement; conversion to new entity
(a) A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, governmental or municipal purposes or other purposes the achievement of which are beneficial to the community consistent with the provisions of sections 45a-514 and 47-2.
Terms Used In Connecticut General Statutes 45a-499z
- Charitable trust: means a trust, or part of a trust, created (A) for a charitable purpose described in §. See Connecticut General Statutes 45a-499c
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
- Person: means an individual, corporation, statutory or business trust, estate, trust, partnership, limited liability company, association, joint venture, court, government, governmental subdivision, agency or instrumentality, public corporation or any other legal or commercial entity. 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
- Trust instrument: means any instrument executed by the settlor, including a will establishing or creating a testamentary trust, that contains terms of the trust, including any amendments thereto. See Connecticut General Statutes 45a-499c
(b) If the terms of a charitable trust do not indicate a particular charitable purpose or beneficiary and if the trustee is not given discretion to select the charitable beneficiaries consistent with the provisions of § 45a-515, the court may select one or more charitable purposes or beneficiaries. The selection shall be consistent with the settlor‘s intention to the extent it can be ascertained.
(c) The settlor of a charitable trust, or a person designated by the settlor who would not otherwise have standing, may maintain a proceeding to enforce the trust only to the extent specified in the trust instrument.
(d) If a charitable trust whose purposes are set forth in a trust instrument is converted to a corporation, limited liability company, benefit corporation or other entity, the governing instrument of the new entity shall recite the charitable purposes of the original trust instrument.