New Hampshire Revised Statutes 195-E:3 – Loan Corporation Authorized
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I. Any qualified educational institution may form a voluntary nonprofit corporation in accordance with this chapter for the purposes specified in this chapter. A qualified educational institution may form a loan corporation either:
(a) By organizing a new voluntary nonprofit corporation as provided in this chapter; or
(b) By amending the articles of agreement and bylaws of an existing voluntary nonprofit corporation organized under N.H. Rev. Stat. Chapter 292 to conform the articles and bylaws to the requirements of N.H. Rev. Stat. § 195-E:5-9; or
(c) By adopting the articles of agreement and bylaws of an existing corporation validly organized by any other entity pursuant to subparagraphs (a) or (b); or
(d) By merging any voluntary nonprofit corporation organized under N.H. Rev. Stat. Chapter 292 with any existing loan corporation validly organized by any other entity pursuant to subparagraphs (a) or (b).
II. The provisions of N.H. Rev. Stat. § 195-E:3-9 shall not apply to the foundation.
(a) By organizing a new voluntary nonprofit corporation as provided in this chapter; or
Terms Used In New Hampshire Revised Statutes 195-E:3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) By amending the articles of agreement and bylaws of an existing voluntary nonprofit corporation organized under N.H. Rev. Stat. Chapter 292 to conform the articles and bylaws to the requirements of N.H. Rev. Stat. § 195-E:5-9; or
(c) By adopting the articles of agreement and bylaws of an existing corporation validly organized by any other entity pursuant to subparagraphs (a) or (b); or
(d) By merging any voluntary nonprofit corporation organized under N.H. Rev. Stat. Chapter 292 with any existing loan corporation validly organized by any other entity pursuant to subparagraphs (a) or (b).
II. The provisions of N.H. Rev. Stat. § 195-E:3-9 shall not apply to the foundation.