58-2431. Trusts for benefit of state or agency or political or governmental subdivision of state; creation; purpose; acceptance; duration. - Kansas Statutes

58-2431

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 24.--TRUSTS AND POWERS

      58-2431.   Trusts for benefit of state or agency or political orgovernmental subdivision of state; creation; purpose; acceptance; duration. Express trusts may be created in real or personal property, or both, orin any estate or interest in either or both, with the state, or any county,municipality, political or governmental subdivision, or governmental agencyof the state as the beneficiary thereof, and the purpose thereof may be thefurtherance, or the providing of funds for the furtherance, of anyauthorized or proper function of the said beneficiary and for anycharitable, benevolent or educational purpose properly attributable to thepurposes of the trust. Such trusts may be created by written instrument, orby will. In the case of written instruments, the same shall be subscribedby the grantor or grantors and duly acknowledged as conveyances of realestate are acknowledged, and before the same shall become effective thebeneficial interest therein shall be accepted by the governor, if the statebe the beneficiary, or by the governing body of any other beneficiary namedtherein, which power and authority of acceptance is hereby conferred uponthe governor and upon the governing bodies of the counties, municipalities,political and governmental subdivisions, and governmental agencies of thestate. Such trusts shall have duration for the term of duration of thebeneficiary, or such shorter length of time as shall be specified in theinstrument or will creating said trust.

      History:   L. 1974, ch. 235, § 1; July 1.