Summary of Original Version

Create a new section of KRS Chapter 273 to define terms; establish that charitable organizations that accept contributions pursuant to an endowment agreement must abide by the terms of the endowment agreement; establish that a donor or a donor's legal representative may bring a civil action against a charitable organization that violates the terms of the endowment agreement.

Summary of Amendment: Senate Committee Substitute 1

Summary Retain original provisions, except delete restrictive language from the definition of "endowment fund;" direct that a civil action shall be limited to appropriate declaratory and injunctive relief and shall not seek a judgment awarding monetary damages.