State Codes and Statutes
Statutes > Maryland > Corporations-and-associations > Title-5 > Subtitle-4 > 5-404§ 5-404. Effect of judicial determination.
The provisions of §§ 5-402 and 5-403 of this subtitle do not apply to any private foundation to the extent that a court of competent jurisdiction, under a judicial proceeding begun by the private foundation before January 1, 1972, determines that:
(1) The application of these sections is contrary to the terms of the charter or other instrument governing the private foundation or the administration of charitable funds held by it; and
(2) The charter or other governing instrument may not properly be changed to conform to these sections.
[An. Code 1957, art. 23, § 447; 1975, ch. 311, § 2.]
