Md. Code Ann., Est. & Trusts § 4-409
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2020
As of January 1, 2019
A legacy for charitable use may not be void because of an uncertainty with respect to the donees if:
A legacy for charitable use may not be void because of an uncertainty with respect to the donees:
(1) The will making the legacy also contains directions for the formation of a corporation to take it; and
(1) If the will making the legacy also contains directions for the formation of a corporation to take the legacy; and
(2) A corporation is formed in accordance with the directions, capable and willing to receive and administer the legacy, within 12 months from the probate of the will, if the legacy is immediate and not subject to a life estate. If the legacy is subject to a life estate, a corporation shall be formed at a time between probate of the will and the end of 12 months following the expiration of a life estate or life estates.
(2) (i) If the legacy is immediate and not subject to a life estate, a corporation is formed in accordance with the directions, capable and willing to receive and administer the legacy, within 12 months from the probate of the will; or
(ii) If the legacy is subject to a life estate, a corporation shall be formed at a time between probate of the will and the end of 12 months following the expiration of a life estate or life estates.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.