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- Title
CHRISTIAN PURPOSE TRUSTS.
- Authors
SIMMONS, THOMAS E.
- Abstract
Noncharitable purpose trusts are recognized under the Uniform Trust Code and the non-uniform laws of many jurisdictions. In 2019, Oregon enacted a stewardship trust statutory scheme. A stewardship trust is a purpose trust which is designed to hold and preserve corporate stock. Properly drafted, a stewardship trust can soften the indefatigable pursuit of profits that drive corporate entities. A stewardship trust can substitute ethical ideals – at least in part – for shareholder return. The purpose trust statutes of other jurisdictions could also partially permit ambitions similar to those which motivated the Oregon legislation to be realized. The concept of a stewardship trust might be pursued even in jurisdictions which do not specifically contemplate purpose trusts being utilized for the prudent but compassionate stewardship of a closely-held business enterprise.
- Subjects
UNITED States; TRUSTS &; trustees; PET trusts; RELIGIOUS trusts; LEGAL status of stockholders; CORPORATION law
- Publication
Creighton Law Review, 2020, Vol 53, Issue 4, p643
- ISSN
0011-1155
- Publication type
Article