§ 5–404
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 5-404 (2026)
Title 5. Special Types of Corporations
Subtitle 4. Private Foundations
§ 5–404LinkCopy Citation
The provisions of §§ 5-402 and 5-403 of this subtitle do not apply to any private foundation to the extent that a court of competent jurisdiction, under a judicial proceeding begun by the private foundation before January 1, 1972, determines that:
(1)
The application of these sections is contrary to the terms of the charter or other instrument governing the private foundation or the administration of charitable funds held by it; and
(2)
The charter or other governing instrument may not properly be changed to conform to these sections.