New Hampshire Revised Statutes 195-E:4 – Incorporators
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I. A qualified educational institution may, by a
2/3 vote of its board of trustees or other governing body, agree to form a loan corporation for the purpose of providing low cost financial assistance to qualified students enrolled at the institution or to their parents. The articles of agreement, articles of amendment, articles of merger, or agreement adopting the articles of agreement and bylaws of any existing loan corporation shall be signed by 5 members of the board of trustees or other governing body who are so authorized in writing by the board of trustees or other body. If a loan corporation is formed pursuant to N.H. Rev. Stat. § 195-E:3, I(a) or (b), the 5 members of the board of trustees or other governing body shall act as the incorporators of the loan corporation.
II. The incorporators shall be deemed to be acting in their capacities as members of and on behalf of the board of trustees or other governing body.
2/3 vote of its board of trustees or other governing body, agree to form a loan corporation for the purpose of providing low cost financial assistance to qualified students enrolled at the institution or to their parents. The articles of agreement, articles of amendment, articles of merger, or agreement adopting the articles of agreement and bylaws of any existing loan corporation shall be signed by 5 members of the board of trustees or other governing body who are so authorized in writing by the board of trustees or other body. If a loan corporation is formed pursuant to N.H. Rev. Stat. § 195-E:3, I(a) or (b), the 5 members of the board of trustees or other governing body shall act as the incorporators of the loan corporation.
Terms Used In New Hampshire Revised Statutes 195-E:4
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
- governing body: shall mean the board of selectmen in a town, the board of aldermen or council in a city or town with a town council, the school board in a school district or the village district commissioners in a village district, or when used to refer to unincorporated towns or unorganized places, or both, the county commissioners. See New Hampshire Revised Statutes 21:48
II. The incorporators shall be deemed to be acting in their capacities as members of and on behalf of the board of trustees or other governing body.