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2019 New Hampshire Revised Statutes
Title LVI - Probate Courts and Decedents' Estates
Chapter 564-F - New Hampshire Foundation Act
Section 564-F:9-901 - Capital.
Universal Citation: NH Rev Stat § 564-F:9-901 (2019)
564-F:9-901 Capital. –
(a) Any property may be contributed to a foundation's capital.
(b) After the initial contribution to a foundation's capital, additional contributions to a foundation's capital shall be made as follows:
(1) An additional contribution shall be made in substantial compliance with the provisions of the certificate of formation and bylaws concerning additional contributions; or
(2) If the certificate of formation and bylaws do not contain any provision concerning additional contributions, the additional contribution shall be made in accordance with the terms and conditions that the directors deem prudent, considering the foundation's purposes and the beneficiaries' interests.
(c) Subject to RSA 564-F:7-702(b), a founder shall not have any right, power, or interest in a foundation solely by reason of contributing property to the foundation.
(a) Any property may be contributed to a foundation's capital.
(b) After the initial contribution to a foundation's capital, additional contributions to a foundation's capital shall be made as follows:
(1) An additional contribution shall be made in substantial compliance with the provisions of the certificate of formation and bylaws concerning additional contributions; or
(2) If the certificate of formation and bylaws do not contain any provision concerning additional contributions, the additional contribution shall be made in accordance with the terms and conditions that the directors deem prudent, considering the foundation's purposes and the beneficiaries' interests.
(c) Subject to RSA 564-F:7-702(b), a founder shall not have any right, power, or interest in a foundation solely by reason of contributing property to the foundation.
Source. 2017, 257:47, eff. Oct. 1, 2017. 2018, 210:3, eff. June 8, 2018.
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