Montana Code 72-38-413. Cy pres
72-38-413. Cy pres. (1) Except as otherwise provided in subsection (2), if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful:
Terms Used In Montana Code 72-38-413
- Charitable trust: means a trust or portion of a trust created for a charitable purpose described in 72-38-405(1). See Montana Code 72-38-103
- Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Montana Code 72-38-103
- Settlor: means a person, including a testator, who creates or contributes property to a trust. See Montana Code 72-38-103
(a)the trust does not fail, in whole or in part;
(b)the trust property does not revert to the settlor or the settlor’s successors in interest; and
(c)the court may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor’s charitable purposes.
(2)A provision in the terms of a charitable trust that would result in distribution of the trust property to a noncharitable beneficiary prevails over the power of the court under subsection (1) to apply cy pres to modify or terminate the trust only if, when the provision takes effect:
(a)the trust property is to revert to the settlor and the settlor is still living; or
(b)fewer than 21 years have elapsed since the date of the trust’s creation.