Pennsylvania § 5550 Devises, bequests and gifts after certain fundamental changes

Pennsylvania Statutes

§ 5550 — Devises, bequests and gifts after certain fundamental changes

Pennsylvania § 5550

JurisdictionPennsylvania

Title 15CORPORATIONS AND UNINCORPORATED ASSOCIATIONS

PartPART II

Ch. 55CORPORATE POWERS, DUTIES AND SAFEGUARDS

Subch.FINANCIAL MATTERS

This text of Pennsylvania § 5550 (Devises, bequests and gifts after certain fundamental changes) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

15 Pa. Cons. Stat. § 5550 (2026).

Text

A devise, bequest or gift to be effective in the future, in trust or otherwise, to or for a nonprofit corporation which has:

(1)changed its purposes;

(2)sold, leased away or exchanged all or substantially all its property and assets;

(3)been converted into a business corporation;

(4)become a party to a consolidation or a division;

(5)become a party to a merger which it did not survive; or

(6)been dissolved; after the execution of the document containing the devise, bequest or gift and before the nonprofit corporation acquires a vested interest in the devise, bequest or gift shall be effective only as a court having jurisdiction over the assets may order under 20 Pa.C.S. Ch. 77 (relating to trusts) or other applicable provisions of law.

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A devise, bequest or gift to be effective in the future, in trust or otherwise, to or for a nonprofit corporation which has:

(1) changed its purposes;

(2) sold, leased away or exchanged all or substantially all its property and assets;

(3) been converted into a business corporation;

(4) become a party to a consolidation or a division;

(5) become a party to a merger which it did not survive; or

(6) been dissolved;

after the execution of the document containing the devise, bequest or gift and before the nonprofit corporation acquires a vested interest in the devise, bequest or gift shall be effective only as a court having jurisdiction over the assets may order under 20 Pa.C.S. Ch. 77 (relating to trusts) or other applicable provisions of law.