Introduced
by
To establish financial management regulations for charitable organizations, including conflict of interest regulations for the directors and managers. The bill would establish that it is a violation of their fiduciary responsibility for the directors of a private trust to disburse funds in a manner that is not consistent with the restrictions and conditions intended by the donor; prohibit such entities from unreasonably amassing assets without disbursing them; prohibit paying directors, managers or employees unreasonable amounts; and more.
Referred to the Committee on Commerce
