(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 purposes of the institutional fund. (b) In addition to complying with the duty of loyalty imposed by law other than this article, each […]
(a) Subject to the intent of a donor expressed in the gift instrument and to subsection (d), an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. Unless stated otherwise in […]
(a) Subject to any specific limitation set forth in a gift instrument or in other law, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with the care that […]
(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 institutional fund. A release or modification may not allow a fund to be used for a purpose other than a charitable […]
Compliance with this article 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.
(a) Where a proceeding under this title could be maintained in more than one place in the Virgin Islands, the Court in which the proceeding is first commenced has the exclusive right to proceed. (b) If proceedings concerning the same estate, protected person, ward, or trust are commenced in more than one Court of the […]
Unless specifically provided to the contrary in this Code or unless inconsistent with its provisions, the rules of civil procedure including the rules concerning vacation of orders and appellate review govern formal proceedings under this Code.
The Clerk of Court shall keep a record for each decedent, ward, protected person or trust involved in any document which may be filed with the Court under this Code, including petitions and applications, demands for notices or bonds, trust registrations, and of any orders or responses relating thereto by the Registrar or Court, and […]
This article applies to institutional funds existing on or established after the effective date of this article. As applied to institutional funds existing on the effective date of this article this article governs only decisions made or actions taken on or after that date.
This article modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101 of that act, 15 U.S.C. Section 7001(a), or authorize electronic delivery of any of the notices described in Section 103 of that act, 15 U.S.C. […]
(a) In applying and construing this article, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. (b) The Court has full power to make orders, judgments and decrees and take all other action necessary and proper to administer justice in […]
