Arizona Laws 14-10110. Others treated as qualified beneficiaries
A. A charitable organization that is expressly and irrevocably designated to receive distributions under the terms of a charitable trust or a person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in section 14-10408 or 14-10409 has the rights of a qualified beneficiary under this chapter.
Terms Used In Arizona Laws 14-10110
- Charitable trust: means a trust, or portion of a trust, created for a charitable purpose described in section 14-10405, subsection A. See Arizona Laws 14-10103
- Court: means the superior court. See Arizona Laws 14-1201
- Organization: means a corporation, limited liability company, business trust, estate, trust, partnership, joint venture, association, government or governmental subdivision or agency or any other legal or commercial entity. See Arizona Laws 14-1201
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency or instrumentality, public corporation or any other legal or commercial entity. See Arizona Laws 14-10103
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Arizona Laws 14-10103
- Trust: includes an express trust, private or charitable, with any additions, wherever and however created. See Arizona Laws 14-1201
- Trust instrument: means an instrument executed by the settlor that contains terms of the trust, including any amendments to that trust. See Arizona Laws 14-10103
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional and successor trustee and a cotrustee. See Arizona Laws 14-10103
B. With respect to a charitable trust created on or after January 1, 2009 having its principal place of administration in this state, a trustee:
1. Within sixty days after the creation of a charitable trust, shall promptly furnish to the attorney general a copy of the portions of the charitable trust instrument that are necessary to describe the charitable purpose.
2. Within sixty days after accepting a trusteeship for a charitable trust, shall notify the attorney general of the acceptance and of the trustee‘s name, address and telephone number.
3. At least thirty days in advance, shall notify the attorney general of any of the following:
(a) Any change in the charitable trust’s principal place of administration to another state.
(b) Any dissolution of the charitable trust.
(c) Any change in the charitable purpose of the charitable trust.
(d) Any court proceedings regarding the charitable trust.
(e) Any change in the method or rate of the trustee’s compensation.
C. For the purposes of subsection B of this section, a "charitable trust" means a trust that is a qualified entity under section 501(c)(3) of the internal revenue code for tax exempt status under section 501(a) of the internal revenue code.