inure

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Related to inurement: enurement

Inure

To result; to take effect; to be of use, benefit, or advantage to an individual.

For example, when a will makes the provision that all Personal Property is to inure to the benefit of a certain individual, such an individual is given the right to receive all the personal property owned by the testator upon his or her death.

inure

v. result in. Commonly used in legal terminology in the phrase: "to inure to the benefit of Janet Jones."

inure

to come into operation or take effect.

TO INURE. To take effect; as, the pardon inures.

References in periodicals archive ?
Set up policies to prevent private inurement and provide continued training to the directors and officers regarding private inurement as well as an understanding of Sec.
Jones, The Scintilla of Individual Profit: In Search of Private Inurement and Excess Benefit, 19 Va.
If the operations were split between two entities, and she were to manage both, the charity would be scrutinized by the Internal Revenue Service (IRS) for possible violations of the doctrines of private inurement and private benefit and for impermissible contributions to the for-profit company.
* Tax-exempt entities that have shale gas deposits on their land face special tax issues, including unrelated business income taxes and the prohibition against inurement.
Section 3(a)(4) defines such a security as "[a]ny security issued by a person organized and operated exclusively for religious, educational, benevolent, fraternal, charitable, or reformatory purposes and not for pecuniary profit, and no part of the net earnings of which inures to the benefit of any person, private stockholder, or individual." (128) Though not explicitly stated in the statute, the second part of the exemption regarding the inurement of benefits refers to persons, stakeholders, or individuals who have a stake in the organization or are somehow connected with the organization, not to the purchasers of securities.
In one court case, a private inurement was sufficient to cost a church its tax-exempt status over the widely fluctuating parsonage allowances paid to a pastor (Unitary Mission Church of Long Island v.
[Does not] result in private inurement or confer impermissible private benefit.
The IRS argued that because the UCC paid Watson & Hughey so much money, the company should be classified as an insider of the charity and therefore UCC violated rules against private inurement. The appellate court determined that the fundraising company was not an insider of the charity and that no one at the charity received inurement.
In other words, even if a state allows a charity to issue stock, it maintains the rules against private inurement and private benefit.
Fortenberry PLLC, The Inurement Prohibition & Non-Profit
the private benefit and private inurement restrictions).
This nondistribution constraint and the broader other-regarding orientation requirement are strongly expressed by a plethora of legal rules: state organizational law barring self-dealing by fiduciaries and limiting distributions more generally; the restrictions on inurement, private benefit, and excess benefit transactions under federal tax exemption law; and the various tax, corporation, and trust law doctrines addressing charitable purpose and charitable class.