72-38-825. Proceedings.
122 words·~1 min read·
/mt/title-72/chapter-38/part-8/72-38-825·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
72-38-825 . Proceedings.
(1)A proceeding contemplated by section 101(l)(3) of the federal Tax Reform Act of 1969 (Public Law 91-172) may be commenced pursuant to 72-38-213 by the organization involved. All specifically named beneficiaries of the organization and the attorney general must be parties to the proceedings. Notwithstanding 72-38-201 , this provision is not exclusive and does not limit any jurisdiction that otherwise exists.
(2)If an instrument creating a trust affected by this section has been recorded, a notice of pendency of judicial proceedings under this section must be recorded in a similar manner within 10 days from the commencement of the proceedings. A duly certified copy of any final judgment or decree in the proceedings must be similarly recorded.