Safeguarding Endowment Gifts Act protects donor-imposed restrictions on charitable endowments.
The Safeguarding Endowment Gifts Act adds new rules for charitable organizations in South Carolina regarding endowment agreements. It prohibits these organizations from violating donor-imposed restrictions unless required or authorized by law. If a charity can't fulfill an agreement term, it must notify the donor and offer an alternative. The act also allows donors or their legal representatives to sue for breaches of the agreement, though damages can't be awarded. Courts can order remedies but not return of funds.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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