The
trustee of a
trust subject to the supervision by a specified public
charitable organization or organizations, as provided in Subsection
59-18-109(5), shall file with each specified charitable organization:
| (1) |
a trust copy of the governing instrument together with a written report, under oath, setting forth complete information as to the nature of the assets and liabilities with the delivery of the release pursuant to Subsection 59-18-109(4) or the filing of the election under Section 59-18-110; |
Terms Used In Utah Code 59-18-111
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Charitable organization: means an organization described in Section 501(c)(3) and exempt from tax under Section 501(a). See Utah Code 59-18-102
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Trust: means an express trust created by a trust instrument, including a will. See Utah Code 59-18-102
| (2) |
an annual report, within 4-1/2 months following the close of each year, setting forth a complete statement of receipts, disbursements, assets (together with cost and market value of each asset), and liabilities; and |
| (3) |
such other information as the public charitable organization or organizations deem necessary to compel proper administration of the trust. |
Renumbered and Amended by Chapter 2, 1987 General Session
