Canal National Bank v. Old Folks' Home Ass'n of Brunswick

WERNICK, Justice.

Before us are four cases raising similar issues resolution of which may be adequately achieved by discussion in a single opinion.

The cases are on Report upon stipulated facts (Rule 72(a) and (b) M.R.C.P.).1 Our decision is sought upon important and difficult questions of law precipitated as to four charitable trusts by provisions of the Federal Tax Reform Act of 1969 (hereinafter the “Tax Reform Act”),2 which undertook to eliminate abuses of the tax laws arising by or through the use of “private foundations”, and by 18 M.R.S.A. § 3956 (hereinafter “Section 3956”) enacted by…