Churches May Remove Restrictions On Endowment Investments
Court permits deviation from limitations imposed by donor in his will
An appellate court in New York has permitted three churches to remove restrictions on permissible investments imposed by the same donor in his will. The donor had said that the churches could invest the bequests only in insured bank accounts and government securities. (In Re: Estate of Chamberlin, Sup. Ct., App. Div., Third Dept., NY, 1/7/16.)
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