New Hampshire Revised Statutes 101-B:3 – Administrator of Program
Current as of: 2023 | Check for updates
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Terms Used In New Hampshire Revised Statutes 101-B:3
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- governor and council: shall mean the governor with the advice and consent of the council. See New Hampshire Revised Statutes 21:31-a
- Trustee: A person or institution holding and administering property in trust.
The commission may contract with an administrator or custodian of deferred compensation plans for the administration of assets accumulated under each employee participant’s account. The commission may also appoint a trustee for the plan. The commission shall appoint the administrator, custodian, or trustee through competitive bidding. The commission shall issue requests for proposals at such times as it deems appropriate but in no case shall any contract with an administrator, custodian, or trustee exceed 10 years without approval of the governor and council.