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Pennsylvania · Through 2026-07-28 (Statute Update stamp, 15 Pa.C.S.)

15 Pa.C.S. § 5550: Devises, bequests and gifts after certain fundamental changes.

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Where this section sits in the code
  1. Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
  2. PART II CORPORATIONS
  3. SUBPART C NONPROFIT CORPORATIONS
  4. ARTICLE B DOMESTIC NONPROFIT CORPORATIONS GENERALLY
  5. CHAPTER 55 CORPORATE POWERS, DUTIES AND SAFEGUARDS
  6. SUBCHAPTER B FINANCIAL MATTERS

A devise, bequest or gift to be effective in the future, in trust or otherwise, to or for a nonprofit corporation which has:

(1) changed its purposes;

(2) sold, leased away or exchanged all or substantially all its property and assets;

(3) been converted into a business corporation;

(4) become a party to a consolidation or a division;

(5) become a party to a merger which it did not survive; or

(6) been dissolved;

after the execution of the document containing the devise, bequest or gift and before the nonprofit corporation acquires a vested interest in the devise, bequest or gift shall be effective only as a court having jurisdiction over the assets may order under 20 Pa.C.S. Ch. 77 (relating to trusts) or other applicable provisions of law.

Collected 2026-09-02T16:31:13Z. Source file · JSON

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