Commingling of Funds Bylaws

ID240
ArticleGifts to the Corporation
Sequence6
Body

No gift shall be required separately to be invested or held, unless it is necessary in order to follow any other direction by the donor as to purpose, or in order to prevent tax disqualification, or it is required by law. In the absence of contrary instructions from the donor, directions for naming a fund as a memorial or otherwise may be satisfied either by keeping under such name accounts reflecting appropriately the interest of such fund in each common investment or in the trust as a whole or by commingling the funds with other funds, but referring in the corporation's documentation to the name designated by the donor of the gift at the time it was received by the corporation.

Changes
Note
UserLynn Clarke
Revision DateDec 23, 2019

Change History

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