Certain charitable trusts authorized

§ 8-1.2 Certain charitable trusts authorized\n (a) Property may be disposed of to any incorporated educational or\nliterary institution in this state, to be held in trust for any one or\nmore of the following purposes:\n (1) To establish and maintain an observatory;\n (2) To found and maintain professorships and scholarships;\n (3) To provide and keep in repair a place for the burial of the dead.\n (4) For any other specific purpose comprehended in the general objects\nauthorized by its charter.\n (b) The trust may be made subject to such conditions as may be\nprescribed by the creator and agreed to by the trustee, and all property\nwhich is hereafter disposed of to any incorporated educational or\nliterary institution in trust for any of the foregoing purposes, may be\nheld by such institution under such trust, subject to such conditions as\nmay be prescribed.\n (c) Property may be disposed of to any incorporated city or village of\nthis state to be held in trust for any educational purpose, the\ndiffusion of knowledge, or for the relief of distress, or for parks,\ngardens, other ornamental grounds or grounds for military parades,\nexercise, health and recreation, within or near such incorporated city\nor village, upon such conditions as may be prescribed by the creator and\nagreed to by such corporation; and all property so transferred to such\ncorporation may be held by it, under such trust, subject to such\nconditions as may be prescribed.\n (d) Property may be disposed of to commissioners of common schools of\nany town and to trustees of any school district, in trust for the\nbenefit of such common schools or the schools of such district.\n (e) The trusts authorized by this section may continue for such time\nas may be necessary to accomplish the purposes for which they are\ncreated.\n