Article Archives >> Lead Stories >> July 2003
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Court
Refuses to Change Loan Fund to Grants
Cy pres is not applicable when University Foundation fails to prove that purpose of donor-restricted loan fund is impossible, illegal, or impracticable
The Supreme Court of Nebraska has refused to change the purpose of donor-restricted university loan funds to permit scholarship grants to students instead of the loans that had been originally specified in the bequests. (In re R.B. Plummer Memorial Loan Fund Trust v. State of Nebraska, No. S-02-463, 5/23/03.)
Article Archives >> Lead Stories >> July 2003
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