New Hampshire Revised Statutes 162-L:2 – Community Development Finance Authority
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I. There is hereby established the community development finance authority, a body corporate and politic. The authority is constituted a public instrumentality of the state. The exercise by the authority of the powers conferred by this chapter shall be deemed and held to be the performance of essential governmental functions. The authority shall be a nonprofit corporation organized under RSA 292.
II. The authority shall be governed by a board of 11 directors which shall include the commissioner of the department of business and economic affairs or designee, and 10 public members appointed by the governor and council as follows:
(a) Four representatives of community development corporations or other nonprofit organizations engaged in community development activities.
(b) One representative of organized labor.
(c) Two representatives of small business and the financial community.
(d) One representative of employment training programs.
(e) Two representatives of private financial institutions.
III. The 10 appointed members of the board of directors shall serve for 5-year terms. If a vacancy occurs on the board of directors, the governor and council shall appoint a person to serve the remainder of the term. A member of the board of directors may be reappointed.
IV. The members of the board of directors shall receive no compensation for their services but shall be reimbursed for actual and necessary expenses, including travel expenses, incurred in performing their duties.
II. The authority shall be governed by a board of 11 directors which shall include the commissioner of the department of business and economic affairs or designee, and 10 public members appointed by the governor and council as follows:
Terms Used In New Hampshire Revised Statutes 162-L:2
- 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.
- governor and council: shall mean the governor with the advice and consent of the council. See New Hampshire Revised Statutes 21:31-a
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(a) Four representatives of community development corporations or other nonprofit organizations engaged in community development activities.
(b) One representative of organized labor.
(c) Two representatives of small business and the financial community.
(d) One representative of employment training programs.
(e) Two representatives of private financial institutions.
III. The 10 appointed members of the board of directors shall serve for 5-year terms. If a vacancy occurs on the board of directors, the governor and council shall appoint a person to serve the remainder of the term. A member of the board of directors may be reappointed.
IV. The members of the board of directors shall receive no compensation for their services but shall be reimbursed for actual and necessary expenses, including travel expenses, incurred in performing their duties.