Pennsylvania § 5550 - Devises, bequests and gifts after certain fundamental changes.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 5550 — Devises, bequests and gifts after certain fundamental changes., with citation guidance and answers to common questions.
§ 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.
Frequently Asked Questions About Pennsylvania § 5550
What does Pennsylvania Consolidated Statutes § 5550 cover?
Section 5550 ("Devises, bequests and gifts after certain fundamental changes.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 5550?
A common citation format is "Pennsylvania Consolidated Statutes § 5550" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 5550 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.