2013 Kentucky Revised Statutes CHAPTER 381 - TITLE TO PROPERTY AND RESTRICTIONS ON USE, OWNERSHIP, AND ALIENATION 381.260 Grants-in-aid of charity valid.
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381.260 Grants-in-aid of charity valid.
(1)
(2)
Every grant, conveyance, legacy, bequest, devise, gift, appointment,
assignment and transfer of property, whenever made and in whatever form,
shall be valid (a) if made to any corporation, association, trust, foundation, or
similar organization or entity, created or formed for and devoted solely to
charitable, religious, scientific, literary, educational, humane, benevolent or like
purposes or, (b) except as otherwise provided by statute, if it is made for any
charitable or humane purpose and if it points out with reasonable certainty the
purposes of the charity and the beneficiaries thereof.
A grant, conveyance, legacy, bequest, devise, gift, appointment, assignment
and transfer of property, whenever made and in whatever form, is deemed to
point out with reasonable certainty the purposes of the charity and beneficiaries
thereof if and so long as the same is to or for the use of any corporation, trust,
community chest, fund, foundation, or other entity organized and operated
exclusively for religious, charitable, scientific, literary, or educational purposes,
including the encouragement of art and the prevention of cruelty to children or
animals, no part of the net earnings of which inures to the benefit of any private
stockholder or individual (except as reasonable compensation for services
rendered), and no substantial part of the activities of which is carrying on
propaganda, or otherwise attempting, to influence legislation, and which does
not participate in, or intervene in (including the publishing or distributing of
statements), any political campaign on behalf of any candidate for public office,
even though such corporation, trust, fund, foundation or other entity is
authorized to apply the trust income or property to any class or classes of
charitable purposes mentioned above and the trustee or other managing
individual or body is able and willing to make the selection.
Effective:July 15, 1980
History: Amended 1980 Ky. Acts ch. 123, sec. 1, effective July 15, 1980. -Amended 1966 Ky. Acts ch. 211, sec. 1(1). -- Recodified 1942 Ky. Acts ch. 208,
sec. 1, effective October 1, 1942, from Ky. Stat. sec. 317.
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