New Hampshire Revised Statutes 187-A:24 – John G. Winant Memorial Foundation
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There is hereby established a charitable and educational foundation to be known as the John G. Winant memorial foundation. The purpose of said foundation shall be to administer a fund in memory of the late John G. Winant for aid to needy students at the university of New Hampshire, with special emphasis upon assistance to students majoring in economics and social welfare.
I. The trustees of the university system of New Hampshire and their successors are hereby constituted the trustees of the foundation. The trustees shall receive no compensation for their services to the foundation, except expenses reasonably incurred by them shall be paid from its funds.
II. The trustees may receive by gift, grant, devise or otherwise and may hold, possess and enjoy for the purposes of the foundation real and personal estate and shall likewise have the power to invest and reinvest its holdings of real or personal property according to the best judgment of the board of trustees. The income from any property real or personal held by said trustees under the provisions of this section shall be expended for charitable and educational purposes as set forth in this section.
I. The trustees of the university system of New Hampshire and their successors are hereby constituted the trustees of the foundation. The trustees shall receive no compensation for their services to the foundation, except expenses reasonably incurred by them shall be paid from its funds.
Terms Used In New Hampshire Revised Statutes 187-A:24
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Personal property: All property that is not real property.
II. The trustees may receive by gift, grant, devise or otherwise and may hold, possess and enjoy for the purposes of the foundation real and personal estate and shall likewise have the power to invest and reinvest its holdings of real or personal property according to the best judgment of the board of trustees. The income from any property real or personal held by said trustees under the provisions of this section shall be expended for charitable and educational purposes as set forth in this section.