Title 12 — Decedents’ Estates and Fiduciary Relations
35 chapters · 275 sections in this title.
12 Del. C. § 4701. Short title.
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§ 4701. Short title. This chapter may be cited as the “Uniform Prudent Management of Institutional Funds Act.”59 Del. Laws, c. 572, § 1; 76 Del. Laws, c. 159, § 1;
12 Del. C. § 4702. Definitions.
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§ 4702. Definitions. In this chapter: (1) “Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community. (2…
12 Del. C. § 4703. Standard of conduct in managing and investing institutional fund.
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§ 4703. Standard of conduct in managing and investing institutional fund. (a) Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purpos…
12 Del. C. § 4704. Appropriation for expenditure or accumulation of endowment fund; rules of construction.
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§ 4704. Appropriation for expenditure or accumulation of endowment fund; rules of construction. (a) Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution dete…
12 Del. C. § 4705. Delegation of management and investment functions.
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§ 4705. Delegation of management and investment functions. (a) Subject to any specific limitation set forth in a gift instrument or in law other than this chapter, an institution may delegate to an external agent the management and investment of an institutional fund to the exten…
12 Del. C. § 4706. Release or modification of restrictions on management, investment, or purpose.
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§ 4706. Release or modification of restrictions on management, investment, or purpose. (a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an in…
12 Del. C. § 4707. Reviewing compliance.
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§ 4707. Reviewing compliance. Compliance with this chapter is determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight.59 Del. Laws, c. 572, § 1; 70 Del Laws, c. 186,, § 1; 76 Del. Laws, c. 159, § 1;
12 Del. C. § 4708. Application to existing institutional funds.
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§ 4708. Application to existing institutional funds. This chapter applies to institutional funds existing on or established after July 31, 2007. As applied to institutional funds existing on July 31, 2007, this chapter governs only decisions made or actions taken on or after that…
12 Del. C. § 4709. Relation to Electronic Signatures in Global and National Commerce Act.
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§ 4709. Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede Section 101 of that act, …
12 Del. C. § 4710. Applicability and construction.
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§ 4710. Applicability and construction. This chapter shall apply solely to trusts and estates included within the meaning of the terms “institution,” “institutional fund” and “person” as used under this chapter and no part of this chapter shall apply to, or affect, the validity, …