§ 17-22-114 — Transition concerning real and personal property

(a) If, before July 1, 1993, an estate or interest in real
or personal property was purportedly transferred to a nonprofit
association, on July 1, 1993 the estate or interest vests in the
nonprofit association unless the parties have treated the
transfer as ineffective.
(b) If, before July 1, 1993, the transfer vested the
estate or interest in another person to hold the estate or
interest as a fiduciary for the benefit of the nonprofit
association, its members, or both, on or after July 1, 1993 the
fiduciary may transfer the estate or interest to the nonprofit
association in its name or the nonprofit association, by
appropriate proceedings, may require that the estate or interest
be transferred to it in its name.