GIFTS OF STOCK. In those instances where securities are transferred to the Trust, they will be sold as soon as practicable after arriving in our account. In those cases, the transfer is final. We do not wish to hold securities as we would funds, because of the possible market fluctuation. Your contribution will be determined based upon the mean value of the securities on the day the securities arrive in our account. FOUNDATIONS: Donations from private foundations, where a disqualified person receives an indirect benefit by way of enhanced property value, may give rise to penalties. We suggest you consult with appropriate counsel as to any possible enhancement effect to property of any disqualified person(s). Foundations are also restricted in funding personal pledges made by persons associated with the foundation. If a pledge is going to be fulfilled by a foundation, the pledge should be made by the foundation.
Appears in 5 contracts
Samples: Pledge Agreement, Pledge Agreement, Pledge Agreement
