Section 564-F:17-1703 - Cy Pres(a) To the extent that a foundation is a charitable trust and one of its charitable purposes becomes impossible, impracticable, illegal, obsolete, ineffective, or prejudicial to the public interest to achieve, a court may apply cy pres for the following purposes: (1) Modifying the foundation's certificate of formation or its bylaws; or(2) Directing the foundation to apply or distribute some or all of its property to one or more charitable purposes that: (A) Are useful to the community;(B) Fulfills as nearly as possible the founder's charitable intent; and(C) Do not violate any of the foundation's material purposes; or(3) Terminating the foundation.(b) Any of the following persons may commence a judicial proceeding seeking the application of cy pres to a foundation under this section: (1) A foundation official;(2) Unless the governing documents provide otherwise, a beneficiary; and(3) The director of charitable trusts.Added by 2017, 257:47, eff. 10/1/2017. 2017, 257:47, eff. Oct. 1, 2017.