Section 17-22-109 - Disposition of Personal Property of Inactive Nonprofit Association

17-22-109. Disposition of personal property of inactive nonprofit association. (a) If a nonprofit association has been inactive for three (3) years or longer, a person in possession or control of personal property of the nonprofit association may transfer the property: (i) If a nonprofit association document specifies a person to whom transfer is to be made under these circumstances, to that person; or (ii) If no person is so specified, to a nonprofit association or nonprofit corporation pursuing broadly similar purposes, or governmental agency.