Source: http://dcmetrotrustcode.com/section/utc-%C2%A7-413/
Timestamp: 2017-10-23 07:55:32
Document Index: 431426484

Matched Legal Cases: ['§ 413', '§413', '§19', '§64', '§ 413', '§ 19', '§ 64']

UTC § 413 - DC Metro Trust CodeDC Metro Trust Code
UTC §413 provides that a provision in the terms of a charitable trust that would result in distribution of the trust property to a non-charitable beneficiary prevails over the power of the court under subsection (a) to apply cy pres to modify or terminate the trust if, when the provision takes effect: (1) the trust property is to revert to the settlor and the settlor is still living; or (2) fewer than 21 years have elapsed since the date of the trust’s creation. This provision is omitted from DC §19-1304.13, but is contained in VA §64.2-731. The MTA has no statutory cy pres provision, although the cy pres doctrine is recognized under Maryland common law (see Gordon v. City of Baltimore, 258 Md. 682, 267 A.2d 98 (1970) and Fletcher v. Safe Deposit & Trust Co., 193 Md. 400, 67 A.2d 386 (1949)).
§ 413. Cy pres.
(a) Except as otherwise provided in subsection (b), if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful:
(b) 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 subsection (a) to apply cy pres to modify or terminate the trust only if, when the provision takes effect:
(2) fewer than 21 years have elapsed since the date of the trust’s creation.
§ 19-1304.13. Cy pres.
Except as otherwise provided in the terms of the trust [MISSING REFERENCE TO UTC(b)], if a particular charitable purpose is or becomes unlawful, impracticable, impossible to achieve, or wasteful:
[MISSING UTC (b), (b)(1), and (b)(2)]
§ 64.2-731. Cy pres
2. The trust property does not revert to the settlor or the settlor's successors in interest; and
3. The court may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor's charitable purposes.
2. Fewer than 21 years have elapsed since the date of the trust's creation.