Oklahoma SB844 establishes the Safeguarding Endowment Gifts Act, protecting donor-imposed restrictions on charitable endowment funds.
Oklahoma SB844, known as the Safeguarding Endowment Gifts Act, creates a legal framework to protect donor-imposed restrictions on charitable endowment funds. The act prohibits charitable organizations from using funds in a manner inconsistent with these restrictions. Donors or their legal representatives can file complaints within six years of discovering a breach. Charitable organizations must notify donors within 30 days if they cannot fulfill an endowment agreement term and offer an alternative solution.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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