ULC

Committees

Trust Management of Funds Raised Through Public Fundraising

Description

This Committee will study the need for and feasibility of uniform or model state legislation concerning the trust management of funds raised for individuals and families by public fundraising efforts, such as crowdfunding. This study is prompted by the growing number of appeals to the public to provide funds for a person or family in need, many prompted by the rise of online crowdfunding sites. The Committee will consider whether uniform or model law should be drafted to provide clear legal rules governing the use of funds raised through such public appeals. In particular, the Committee will examine whether uniform or model law can usefully and feasibly address the appropriate use of funds; preventing potential misuse of funds; liability of custodians for funds; and disposition of excess funds.

Committee Members

Contact the Chicago office for more information.

Related Information

Drafts

No drafts for this commitee