New Hampshire Revised Statutes 293-B:1 – Purpose
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Terms Used In New Hampshire Revised Statutes 293-B:1
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- 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
The general court finds that the revitalization of the state‘s economy and the development of business and investment in New Hampshire will be facilitated by making available a broad range of entities for investment enterprises. The statutory recognition of investment trusts, previously recognized only in common law, provides an alternative to conducting investment activity through entities such as corporations and partnerships and will introduce certainty as to treatment of investment trusts under state law, particularly with respect to the rights and duties of their trustees and beneficiaries. It is the intent of the general court to give the constituent members of investment trusts the widest discretion to fashion structures of such entities to meet their investment needs consistent with the provisions of this chapter.