53-716 TRANSITION CONCERNING REAL AND PERSONAL PROPERTY. - Idaho Statutes

TITLE 53

PARTNERSHIP

CHAPTER 7

UNIFORM UNINCORPORATED NONPROFIT ASSOCIATION ACT

53-716. Transition concerning real and personal property. (1) If, before the effective date of this chapter, an estate or interest in real or personal property was purportedly transferred to a nonprofit association, on the effective date of this chapter the estate or interest vests in the nonprofit association, unless the parties had treated the transfer as ineffective.

(2) If, before the effective date of this chapter, the transfer vested the estate or interest in another person to hold the estate or interest as a fiduciary for the benefit of the nonprofit association, its members, or both, on or after the effective date of this chapter the fiduciary may transfer the estate or interest to the nonprofit association in its name or the nonprofit association, by appropriate proceedings, may require that the estate or interest be transferred to it in its name.