1. (a) In this title the following words have the meanings indicated.

2. (b)

   1. (1) “Charitable asset” means property that is given, received, or held for a charitable purpose, including all interest in:

      1. (i) real property; or
      2. (ii) tangible or intangible personal property.

   2. (2) “Charitable asset” includes:

      1. (i) cash;
      2. (ii) remainder interests;
      3. (iii) conservation or preservation easements or restrictions; and
      4. (iv) charitable contributions.
   3. (3) “Charitable asset” does not include property acquired or held for a for-profit purpose.
3. (c) “Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose whose achievement is beneficial to the community.

Added by Acts 2014, c. 654, § 1, eff. Oct. 1, 2014.