§ 18-9-17 - Enforcement of the fiduciary responsibilities of the trustees of charitable trusts.
SECTION 18-9-17
§ 18-9-17 Enforcement of the fiduciaryresponsibilities of the trustees of charitable trusts. – (a) If the trustee(s) fails to register a charitable trust with the attorneygeneral as required by this chapter, an additional fee not to exceed onehundred dollars ($100) may be assessed at the time the trust is finallyregistered.
(b) When a registered charitable trust with assets overtwenty-five thousand dollars ($25,000) has failed to file an annual report withthe charitable trust division of the department of attorney general for aperiod exceeding two (2) years, in addition to any other sanctions which may beimposed, a fee of one hundred dollars ($100) shall be charged to the trust, inaddition to the normal filing fee.
(c) In the event that any charitable trust fails to take anyactions that are required by this chapter, the attorney general may bring anaction to restrain the charity from transacting any business in the state andmay take any other action, including the seeking of any other judicial relief,that may be appropriate to compel compliance with the provisions of thischapter.
(d) Any person who knowingly violates any provision of thischapter or who willingly and knowingly gives false or incorrect information tothe attorney general in filing statements or reports as required by thischapter, whether the report or statement is verified or not, may be fined notmore than one thousand dollars ($1,000), or imprisoned not more than one year,or both.