Missouri Revised Statutes













Chapter 402

Investment Guidelines for Eleemosynary Funds and Trust Funds for Handicapped Persons

←402.060

Section 402.130.1

402.132→

August 28, 2015

Definitions.

402.130. As used in sections 402.130 to 402.148, the following terms

shall mean:



(1) "Charitable purpose", the relief of poverty, the advancement of

education or religion, the promotion of health, the promotion of a

governmental purpose, or any other purpose the achievement of which is

beneficial to the community;



(2) "Endowment fund", an institutional fund or part thereof that, under

the terms of a gift instrument, is not wholly expendable by the institution

on a current basis. The term shall not include assets that an institution

designates as an endowment fund for its own use;



(3) "Gift instrument", a record or records, including an institutional

solicitation under which property is granted to, transferred to, or held by

an institution as an institutional fund;



(4) "Institution":



(a) A person, other than an individual, organized and operated

exclusively for charitable purposes;



(b) A government or governmental subdivision, agency, or instrumentality

to the extent that it holds funds exclusively for a charitable purpose; or



(c) A trust that had both charitable and noncharitable interests after

all noncharitable interests have terminated;



(5) "Institutional fund", a fund held by an institution exclusively for

charitable purposes. It shall not include:



(a) Program-related assets;



(b) A fund held for an institution by a trustee that is not an

institution; or



(c) A fund in which a beneficiary that is not an institution has an

interest other than an interest that could arise upon violation or failure of

the purposes of the fund;



(6) "Person", an individual, corporation, business trust, estate, trust,

partnership, limited liability company, association, joint venture, public

corporation, government or governmental subdivision, agency, or

instrumentality, or any other legal or commercial entity;



(7) "Program-related asset", an asset held by an institution primarily

to accomplish a charitable purpose of the institution and not primarily for

investment;



(8) "Record", information that is inscribed on tangible medium or that

is stored in an electronic or other medium and is retrievable in perceivable

form.



(L. 2009 H.B. 239)







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