15 Pa. Cons. Stat. § 5550

Devises, bequests and gifts after certain fundamental changes.

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

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.

(July 9, 2013, P.L.476, No.67, eff. 60 days)

Cross References. Section 5550 is referred to in section 314 of this title.

Notes of Decisions

Cited in 3 cases, 1995–2020 · leading case: In Re Estate of Elkins

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In Re Estate of Elkins (2005) pasuperct “15 Pa.C.S. § 5550 (emphasis added). ¶ 18 Based upon the interplay between the Nonprofit Corporation Act and the Probate, Estates and Fiduciaries Code, it is apparent that the Philadelphia Court’s decrees were directing that PHEC had control over the charitable assets that were…”

In re: Independent Fire Co. No. 1 a non profit corp. ~ Appeal of: Com. of PA (2020) pacommwct “15 Pa.C.S. §5550. 15 Notably, under Section 5501, “a nonprofit corporation shall have the legal capacity of natural persons to act,” 15 Pa.”

In re Estate of Stover (1995) pactcomplbucks “§5929 makes the continued gift to the surviving or consolidated corporation subject to compliance with the requirements of 15 Pa.C.S. §5550 (formerly 15 Pa.C.S. §9552).”

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