55-544.18 - Amendment of trust where gift, etc., establishes private foundation or constitutes a charitable trust or a split-interest trust. - Virginia Statutes

§ 55-544.18. Amendment of trust where gift, etc., establishes privatefoundation or constitutes a charitable trust or a split-interest trust.

When any such gift, grant, devise or bequest establishes a private foundation(as defined in § 509 of the Internal Revenue Code) or constitutes acharitable trust (as described in § 4947 (a) (1) of the Internal RevenueCode) or a split-interest trust (as described in § 4947 (a) (2) of theInternal Revenue Code), the trustee or trustees of such trust, with theconcurrence of the creator of the trust, if then living and able to give suchconsent, and the Attorney General, may, without resort to any court, unlesssuch amendment is inconsistent with an express provision of such trust'sgoverning instrument, amend the terms of such trust to bring such trust intoor continue such trust in conformity with requirements for exemption of suchtrust, or any interest therein, from federal taxes. When such gift, grant, orwill is recorded, a copy of such amendment shall be similarly recorded.

(2005, c. 935.)