Title 30, Chapter 10, Section 9
( 30-10-9)
(a) Upon the dissolution of any organization administering a
community trust, the remaining balance of each trust account shall
be distributed to other community trusts. The Attorney General may
bring an action in the superior courts for the dissolution of a
nonprofit organization or a community trust for the purpose of
terminating the trust or merging it with another community trust. (b) Community trusts shall not be subject to or held to be in
violation of any principle of law against perpetuities or restraints
on alienation, including Article 9 of Chapter 6 of Title 44, the
"Uniform Statutory Rule Against Perpetuities." (c) Nothing contained in this chapter shall be construed so as to
impair or limit the creation of other forms of trusts or charitable
trusts, whether or not similar to community trusts permitted by this
chapter. |