607-20

Charitable trusts, special provision

§607-20 Charitable trusts, special provisions. (a) Notwithstanding any other provisions, in the case of a charitable trust, the compensation of the trustees shall be limited to an amount that is reasonable under the circumstances.

(b) This section shall apply to existing and new charitable trusts established after January 1, 1999; provided that any provisions in existing trust agreements regarding trustees’ compensation shall supersede this section. [L 1943, c 149, §§1, 2; RL 1945, §9758; RL 1955, §219-19; am L 1959, c 169, §2; HRS §607-20; am L 1998, c 310, §2]

Revision Note

“January 1, 1999” substituted for “the effective date of this Act”.

Case Notes

Sums collected from lessees of estate and paid to State for real property taxes are income. 53 H. 604, 499 P.2d 670 (1972).

Cited: 37 H. 111, 139 (1945).