Trevathan v. Ringgold-Noland Foundation, Inc.

J. Fred Jones, Justice.

This suit involves the disposition of the assets of a charitable corporation under the cy pres doctrine. The directors of the corporation filed petition in Chancery seeking authority to sell the corporate property and to apply the proceeds to the erection of an addition to a public library not previously contemplated. Some of tbe original donors and incorporators filed a response opposing the sale and proposed use of tbe funds. Tbe trial court, in applying tbe cy pres doctrine, permitted tbe sale and authorized tbe use of the funds in tbe construction of an addition to…