New Hampshire Revised Statutes 366:2 – Sale of Securities to or by Employees
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Terms Used In New Hampshire Revised Statutes 366:2
- Affiliate: shall mean and include the following:
(a) Any person that directly or indirectly owns, controls, or holds with power to vote a majority of the outstanding voting securities or such minority thereof as to give him substantial control of such a public utility. See New Hampshire Revised Statutes 366:1 - Contract: A legal written agreement that becomes binding when signed.
- 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.
- Person: shall mean and include individuals, corporations, trustees, lessees, holders of beneficial equitable title, voluntary associations, receivers, and partnerships. See New Hampshire Revised Statutes 366:1
No public utility shall, without the approval of the department of energy, permit any employee to sell, offer for sale, or solicit the purchase of any security issued by an affiliate during such hours as such employee is engaged to perform any duty of such public utility; nor shall any public utility by any means or device whatsoever require any employee to purchase or contract to purchase any of its securities or those of any other person or corporation; nor shall any public utility require any employee to permit the deduction from his wages or salary of any sum as a payment or to be applied as a payment on any purchase or contract to purchase any security of such public utility or of any other person.