14-10409. Noncharitable trust without
ascertainable beneficiary
Except as otherwise provided in section 14-10408 or by another statute, the
following rules apply:
1. A trust may be created for a noncharitable purpose without a definite or
definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose
to be selected by the trustee, provided that the trust may not be enforced for more than
ninety years after its creation.
2. A trust authorized by this section may be enforced by a person appointed in the
terms of the trust or, if no person is so appointed, by a person appointed by the court.
3. Property of a trust authorized by this section may be applied only to its
intended use, except to the extent the court determines that the value of the trust
property exceeds the amount required for the intended use. Except as otherwise provided
in the terms of the trust, property not required for the intended use must be distributed
to the settlor, if then living, or otherwise to the settlor's successors in interest.
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