Charitable Trustee Clause Samples
The Charitable Trustee clause designates an individual or organization to manage and oversee assets held in trust for charitable purposes. This clause typically outlines the trustee's powers, duties, and responsibilities, such as distributing funds to specified charities, maintaining records, and ensuring compliance with relevant laws. Its core function is to ensure that charitable assets are properly managed and used in accordance with the donor's intentions, thereby providing accountability and legal structure for charitable giving.
Charitable Trustee. The term "Charitable Trustee" shall mean a Person unaffiliated with the Trust and unaffiliated with the Prohibited Owner, that is appointed by a majority of the Trustees to serve as trustee of the Charitable Trust.
Charitable Trustee. The Person unaffiliated with the Corporation and a Prohibited Owner that is appointed by the Corporation to serve as trustee of the Charitable Trust.