§59B-5. Real and personal property; nonprofit association as devisee or beneficiary

Latest version.

(a)        A nonprofit association is a legal entity separate from its members for the purposes of acquiring, holding, encumbering, and transferring real and personal property.

(b)        A nonprofit association, in its name, may acquire, hold, encumber, or transfer an estate or interest in real or personal property.

(c)        A nonprofit association may be a beneficiary of a trust or contract or a devisee.

(d)       Any judgments and executions against a nonprofit association bind its real and personal property in like manner as if it were incorporated.

(2006-226, s. 1; 2011-284, s. 59.)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');