[§429-9]  Disposition of personal property
of inactive nonprofit association.  If a nonprofit association has been
inactive for three years or longer, or a different period specified in a
document of the nonprofit association, a person in possession or control of
personal property of the nonprofit association may transfer custody of the
property:



(1)  If a document of the nonprofit association
specifies a person to whom transfer is to be made under those circumstances, to
that person; or



(2)  If no person is so specified, to a nonprofit
association or nonprofit corporation pursuing broadly similar purposes or to a
government, governmental subdivision, agency, or instrumentality. [L 1999, c
161, pt of §1]