§ 36C‑4‑405.2. Spending rules applicable to charitable trusts.
Subject to the intent of asettlor specifically expressed in a trust instrument, including a documentmaking a gift to a charitable trust after it is established, a trustee of acharitable trust may appropriate for expenditure or accumulate so much of thetrust property as the trustee determines is prudent for the uses, benefits,purposes, and duration for which that charitable trust is established. Inmaking a determination to appropriate or accumulate trust property, a trusteeshall act in good faith, with the care that an ordinarily prudent person in alike position would exercise under similar circumstances, and shall consider,if relevant, the following factors:
(1) The duration andpreservation of the trust;
(2) The purposes of thetrust;
(3) General economicconditions;
(4) The possible effectof inflation or deflation;
(5) The expected totalreturn from income and the appreciation of investments;
(6) Other resources ofthe trust; and
(7) The investmentpolicy of the trust. (2009‑8, s. 3.)
§ 36C‑4‑405.2. Spending rules applicable to charitable trusts.
Subject to the intent of asettlor specifically expressed in a trust instrument, including a documentmaking a gift to a charitable trust after it is established, a trustee of acharitable trust may appropriate for expenditure or accumulate so much of thetrust property as the trustee determines is prudent for the uses, benefits,purposes, and duration for which that charitable trust is established. Inmaking a determination to appropriate or accumulate trust property, a trusteeshall act in good faith, with the care that an ordinarily prudent person in alike position would exercise under similar circumstances, and shall consider,if relevant, the following factors:
(1) The duration andpreservation of the trust;
(2) The purposes of thetrust;
(3) General economicconditions;
(4) The possible effectof inflation or deflation;
(5) The expected totalreturn from income and the appreciation of investments;
(6) Other resources ofthe trust; and
(7) The investmentpolicy of the trust. (2009‑8, s. 3.)
§ 36C‑4‑405.2. Spending rules applicable to charitable trusts.
Subject to the intent of asettlor specifically expressed in a trust instrument, including a documentmaking a gift to a charitable trust after it is established, a trustee of acharitable trust may appropriate for expenditure or accumulate so much of thetrust property as the trustee determines is prudent for the uses, benefits,purposes, and duration for which that charitable trust is established. Inmaking a determination to appropriate or accumulate trust property, a trusteeshall act in good faith, with the care that an ordinarily prudent person in alike position would exercise under similar circumstances, and shall consider,if relevant, the following factors:
(1) The duration andpreservation of the trust;
(2) The purposes of thetrust;
(3) General economicconditions;
(4) The possible effectof inflation or deflation;
(5) The expected totalreturn from income and the appreciation of investments;
(6) Other resources ofthe trust; and
(7) The investmentpolicy of the trust. (2009‑8, s. 3.)
