Commission Adopts Model Protection Of Charitable Assets Act

Here is an excerpt from a story we recently published on our website:

The Model Protection of Charitable Assets Act (MPCAA) received approval from the Uniform Law Commission (ULC) Tuesday during the ULC’s annual meeting in Vail, Colo.

Approval means that individual states can use the act or any part of it as a model for regulation of nonprofit organizations, though they are not required to use any of it. The new act replaces the Uniform Supervision of Trustees Charitable Purposes Act, passed in 1954.

In a statement after the vote, the ULC said the goal of the PCAA is to “protect the role of the states with respect to charitable assets, by clarifying the role of the Attorney General.

“The attorney general’s authority in most states is broad and this act will not limit or narrow that authority, while providing many states the first clear statutory articulation of that authority.”

You can read the full story by visiting The NonProfit Times on the web.