2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 55 - Corporate Powers, Duties and Safeguards
5547 - Authority to take and hold trust property.

     § 5547.  Authority to take and hold trust property.
        (a)  General rule.--Every nonprofit corporation incorporated
     for a charitable purpose or purposes may take, receive and hold
     such real and personal property as may be given, devised to, or
     otherwise vested in such corporation, in trust, for the purpose
     or purposes set forth in its articles. The board of directors or
     other body of the corporation shall, as trustees of such
     property, be held to the same degree of responsibility and
     accountability as if not incorporated, unless a less degree or a
     particular degree of responsibility and accountability is
     prescribed in the trust instrument, or unless the board of
     directors or such other body remain under the control of the
     members of the corporation or third persons who retain the right
     to direct, and do direct, the actions of the board or other body
     as to the use of the trust property from time to time.
        (b)  Nondiversion of certain property.--Property committed to
     charitable purposes shall not, by any proceeding under Chapter
     59 (relating to fundamental changes) or otherwise, be diverted
     from the objects to which it was donated, granted or devised,
     unless and until the board of directors or other body obtains
     from the court an order under 20 Pa.C.S. Ch. 61 (relating to
     estates) specifying the disposition of the property.
     (Dec. 21, 1988, P.L.1444, No.177, eff. Oct. 1, 1989)

        1988 Amendment.  Act 177 amended subsec. (b).
        Cross References.  Section 5547 is referred to in sections
     5548, 5549, 5746, 5916, 5929, 5930, 5957, 5966, 5976, 5989 of
     this title.