Chapter 450

2006 -- H 7708

Enacted 07/07/06

A N A C T

RELATING TO CHARITABLE TRUSTS

Introduced By: Representative Peter L. Lewiss

Date Introduced: February 28, 2006

It is enacted by the General Assembly as follows:

     SECTION 1. Section 18-9-16 of the General Laws in Chapter 18-9 entitled "Charitable

Trusts" is hereby amended to read as follows:

18-9-16. Termination of certain charitable trusts. -- (a) A charitable trust with total

assets of less than one two hundred thousand dollars ($100,000) ($200,000) may be terminated at

any time at the discretion of the trustee or trustees with the consent of the attorney general and the

beneficiary or beneficiaries by delivery of the assets to the beneficiary or beneficiaries.

      (b) Where the trustee or trustees have discretion in the selection of the beneficiary or

beneficiaries, only the consent of the attorney general shall be required, and the discretion in the

selection of the beneficiary or beneficiaries to receive the assets shall be exercised by the trustee

or trustees.

      (c) The beneficiary or beneficiaries to whom the trust estate shall be delivered shall hold

and apply the trust estate for the uses and purposes set forth in this instrument.

     SECTION 2. This act shall take effect upon passage and shall apply to trusts whenever

created.

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LC01633

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