59-18-109 - Release of power to select charitable donees.
59-18-109. Release of power to select charitable donees.
(1) The trustee of a trust all of the unexpired interests in which are devoted to one ormore charitable purposes, unless the creating instrument expressly provides otherwise, mayrelease a power to select charitable donees.
(2) The release of a power to select charitable donees may apply to all or any part of theproperty subject to the power and may reduce or limit the charitable organizations or classes ofcharitable organizations in whose favor the power is exercisable.
(3) A release shall be effected by a duly acknowledged written instrument signed by thetrustee and delivered as provided in Subsection (4).
(4) Delivery of a release shall be accomplished as follows:
(a) if the release is accomplished by specifying a charitable organization or organizationsas beneficiary or beneficiaries of the trust, by delivery of a copy of the release to each designatedcharitable organization;
(b) if the release is accomplished by reducing the class of permissible charitableorganizations, by delivery of a copy of the release to the attorney general.
(5) If a release is accomplished by specifying a public charitable organization ororganizations as beneficiary or beneficiaries of the trust, the trust at all times thereafter shall beoperated exclusively for the benefit of and supervised by the specified public charitableorganization or organizations.
Renumbered and Amended by Chapter 2, 1987 General Session