There is a newer version
of
this Section
2019 New Hampshire Revised Statutes
Title LVI - Probate Courts and Decedents' Estates
Chapter 564-F - New Hampshire Foundation Act
Section 564-F:17-1702 - Reformation.
Universal Citation: NH Rev Stat § 564-F:17-1702 (2019)
564-F:17-1702 Reformation. –
(a) A court may reform a foundation's certificate of formation or its bylaws for purposes of conforming the certificate of formation or the bylaws to the founder's intent if:
(1) Whether in the expression or inducement, the foundation's certificate of formation or its bylaws were affected by a mistake of fact, a mistake of law, or both a mistake of fact and a mistake of law; and
(2) The founder's intent is proven by clear and convincing evidence;
(3) The mistake is proven by clear and convincing evidence; and
(4) The reformation does not violate any of the foundation's material purposes.
(b) A court may reform a foundation's certificate of formation or its bylaws for purposes of achieving the founder's tax objectives if:
(1) The reformation is consistent with the founder's intent; and
(2) The reformation does not violate any of the foundation's material purposes.
(c) A reformation under this section may be retroactive or prospective.
(d) Any of the following persons may commence a judicial proceeding seeking reformation of a foundation's certificate of formation or its bylaws under this section:
(1) A founder;
(2) A foundation official;
(3) Unless the governing documents provide otherwise, a beneficiary; and
(4) To the extent that the foundation is a charitable trust, the director of charitable trusts.
(a) A court may reform a foundation's certificate of formation or its bylaws for purposes of conforming the certificate of formation or the bylaws to the founder's intent if:
(1) Whether in the expression or inducement, the foundation's certificate of formation or its bylaws were affected by a mistake of fact, a mistake of law, or both a mistake of fact and a mistake of law; and
(2) The founder's intent is proven by clear and convincing evidence;
(3) The mistake is proven by clear and convincing evidence; and
(4) The reformation does not violate any of the foundation's material purposes.
(b) A court may reform a foundation's certificate of formation or its bylaws for purposes of achieving the founder's tax objectives if:
(1) The reformation is consistent with the founder's intent; and
(2) The reformation does not violate any of the foundation's material purposes.
(c) A reformation under this section may be retroactive or prospective.
(d) Any of the following persons may commence a judicial proceeding seeking reformation of a foundation's certificate of formation or its bylaws under this section:
(1) A founder;
(2) A foundation official;
(3) Unless the governing documents provide otherwise, a beneficiary; and
(4) To the extent that the foundation is a charitable trust, the director of charitable trusts.
Source. 2017, 257:47, eff. Oct. 1, 2017.
Disclaimer: These codes may not be the most recent version. New Hampshire may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
