381.260 Grants-in-aid of charity valid.
293 words·~1 min read·
/ky/chapter-381/381-260A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Every grant, conveyance, legacy, bequest, devise, gift, appointment, assignment and
transfer of property, whenever made and in whatever form, shall be valid
(a)if
made to any corporation, association, trust, foundation, or similar organization or
entity, created or formed for and devoted solely to charitable, religious, scientific,
literary, educational, humane, benevolent or like purposes or,
(b)except as
otherwise provided by statute, if it is made for any charitable or humane purpose
and if it points out with reasonable certainty the purposes of the charity and the
beneficiaries thereof.
(2)A grant, conveyance, legacy, bequest, devise, gift, appointment, assignment and
transfer of property, whenever made and in whatever form, is deemed to point out
with reasonable certainty the purposes of the charity and beneficiaries thereof if and
so long as the same is to or for the use of any corporation, trust, community chest,
fund, foundation, or other entity organized and operated exclusively for religious,
charitable, scientific, literary, or educational purposes, including the encouragement
of art and the prevention of cruelty to children or animals, no part of the net
earnings of which inures to the benefit of any private stockholder or individual
(except as reasonable compensation for services rendered), and no substantial part
of the activities of which is carrying on propaganda, or otherwise attempting, to
influence legislation, and which does not participate in, or intervene in (including
the publishing or distributing of statements), any political campaign on behalf of
any candidate for public office, even though such corporation, trust, fund,
foundation or other entity is authorized to apply the trust income or property to any
class or classes of charitable purposes mentioned above and the trustee or other
managing individual or body is able and willing to make the selection.