16:1-26 - Disposition of funds for school purposes; action to determine disposition - New Jersey Statutes

16:1-26.  Disposition of funds for school purposes;  action to determine disposition
    When funds have been given to any person or corporation for the purpose of maintaining a school, or for the support of poor scholars in a school formerly maintained, on the property of a religious society, and such school has ceased to exist, the Superior Court, in a civil action by any such person or corporation may, if it be found impossible to carry out and comply with the trust fully, direct payment of the income from such funds to the maintenance of  the property of such religious society, or for any other purpose nearest akin  to the trust.  The court may proceed in the action in a summary manner or  otherwise.

     Amended by L.1953, c. 16, p. 140, s. 2, eff. March 19, 1958.