California Health and Safety Code 32503 – The grantor may designate in the grant:(a) The nature, object, …
The grantor may designate in the grant:
(a) The nature, object, and purpose of the hospital.
Terms Used In California Health and Safety Code 32503
- Grantor: The person who establishes a trust and places property into it.
- Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
- Trustee: A person or institution holding and administering property in trust.
(b) The name by which it shall be known.
(c) The powers and duties of the trustee, including the manner in which he shall account, and to whom. Such powers and duties shall not be held to be exclusive of any others necessary to enable the trustee fully to carry out the object of the grant.
(d) The mode and manner by which, and the person by whom any successor of the named trustee shall be appointed.
(e) Such rules and regulations for the management of the property conveyed as the grantor may elect to prescribe. Unless the grantor otherwise prescribes, such rules shall be advisory only, and shall not preclude the trustee from making such changes as new conditions may from time to time require.
(Added by Stats. 1953, Ch. 82.)