59-1105. Public, charitable or certain nonprofit corporation trustees; exceptions. - Kansas Statutes

59-1105

Chapter 59.--PROBATE CODE Article 11.--BONDS

      59-1105.   Public, charitable or certain nonprofit corporation trustees; exceptions.No bond shall be required from any public, religious, charitable, oreducational corporation or society, or any nonprofit Kansas corporationtrustee where the purpose of the trust shall be financial aid to any Kansaseducational institution or for research or for the financing ofscholarships or fellowships at, or for the aid either through loans, grantsor otherwise to the students of such institution, unless the will providesotherwise, where devises or legacies are given to such corporation orsociety in trust for any of the purposes of such corporation or society norshall such trustee be required to file inventory or make reports asrequired in article 16 of this code unless the same shall be necessaryunder the terms of the instrument establishing the trust under which itoperates or unless the district court having jurisdiction shall find, onpetition and after due notice and hearing, that such bonds, inventory orreports are necessary for the purpose of compelling the faithfulperformance of the trust by the trustee named.

      History:   L. 1939, ch. 180, § 85; L. 1945, ch. 235, § 1; L. 1976,ch. 242, § 14; Jan. 10, 1977.