1. (1) Except as otherwise provided in subsection (2) of this section, if a particular charitable purpose of a trust becomes unlawful, impracticable, impossible to achieve or wasteful:

   1. (a) The trust does not fail, in whole or in part;
   2. (b) The trust property does not revert to the settlor or the settlor’s successors in interest; and
   3. (c) The court may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor’s charitable purposes.

2. (2) If a provision in the terms of a charitable trust would result in distribution of the trust property to a noncharitable beneficiary, a court may not apply cy pres to modify or terminate the trust under subsection (1)(c) of this section if, when the provision takes effect:

   1. (a) The trust property is to revert to the settlor and the settlor is still living; or
   2. (b) Fewer than 50 years have elapsed since the date of the trust’s creation.

[2005 c.348 §33; 2009 c.275 §13]