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2017 Tennessee Code
Title 35 - Fiduciaries and Trust Estates
Chapter 11 - Fundraising for Catastrophic Illnesses
§ 35-11-112. Exemptions.
Universal Citation: TN Code § 35-11-112 (2017)
- (a) (1) This chapter shall not apply to any nonprofit corporation that is:
- (A) Incorporated under the laws of Tennessee;
- (B) Exempt from federal income taxation under 26 U.S.C. § 501(c)(3); and
- (C) Requested by a patient or a patient's family to raise funds for an organ transplant for a specific individual.
- (2) Any funds remaining in a particular account shall revert to the general fund of the corporation to be used to assist other similarly situated persons.
- (b) (1) This chapter shall not apply to any nonprofit corporation that:
- (A) Is incorporated under the laws of Tennessee and is exempt from federal income taxation under 26 U.S.C. § 501(c)(3); and
- (B) Solicits and accepts contributions of funds for the purpose of providing minors suffering from a catastrophic illness with nonmedical gifts or benefits to fulfill a desire or wish of the minor.
- (2) A portion of such funds may be used to provide appropriate adult supervision if required by the gift.
- (3) Any such funds raised for a particular minor and unexpended shall revert to the general fund of the corporation to be used to provide gifts or benefits for a similar minor.
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