2017 Nebraska Revised Statutes
Chapter 30 - DECEDENTS' ESTATES; PROTECTION OF PERSONS AND PROPERTY
30-3839 (UTC 413) Cy pres.
30-3839. (UTC 413) Cy pres.
(UTC 413) (a) Except as otherwise provided in subsection (b) of this section, if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful:
(1) the trust does not fail, in whole or in part;
(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 or to the Legal Aid and Services Fund.
(b) Subsection (a) of this section does not apply if the document creating the charitable interest expressly provides for an alternate disposition of the charitable interest in the event the charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful. A general residuary disposition by trust shall not be considered an express provision for an alternate disposition.
(c) This section shall not be deemed to limit application of the common law doctrines of cy pres and deviation or section 58-615.
Source
- Laws 2003, LB 130, § 39;
- Laws 2010, LB758, § 4;
- Laws 2014, LB1089, § 2.
