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PA Provides New Spending Flexibilities and Nonjudicial Settlement Opportunities for Nonprofits, Charitable Trusts

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On July 23, 2020, Pennsylvania Governor Tom Wolf approved 2020 Act 71, enacting House Bill 2484. The new law amends the Pennsylvania Consolidated Statutes, Titles 15 (Corporations and Unincorporated Associations) and 20 (Decedents, Estates and Fiduciaries). The amended statutes now include increased endowment spending provisions related to COVID-19, as well as new provisions for nonjudicial settlements....<BR />By: <a href="https://www.jdsupra.com/profile/Ballard_Spahr/">Ballard Spahr LLP</a>

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