New Hampshire Revised Statutes 463:26 – Investments
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Every guardian of the estate shall invest, in the name of the minor, or in the guardian’s own name as guardian of the minor, the money and the proceeds of all real and personal property of the minor not required for the minor’s support in the following described classes of property only, unless authorized or directed by the court:
I. In notes secured by mortgage of real estate at least double in value of the notes, or in notes or bonds secured by mortgage insured by the United States Secretary of Housing and Urban Development and guaranteed by the United States of America.
II. By deposit in some incorporated savings bank in this state or in the savings department of a national bank or trust company located in this state, or in shares of any building and loan association or cooperative bank, incorporated and doing business under the laws of this state, or in the shares of any federal savings and loan association, located and doing business in this state.
III. In such other stocks, bonds, or securities as are legal investments for savings banks in this state; provided, however, that no guardian of the estate of a minor who is a beneficiary of the Department of Veterans Affairs shall invest any funds of the minor under this paragraph without the written consent of the court, except that the guardian may invest without prior consent in direct unconditional interest bearing obligations the interest and principal of which are unconditionally guaranteed by the United States.
IV. With the consent of the court, in life, death, and annuity contracts of life insurance companies authorized to do business in this state.
V. In such stocks, bonds or other securities, including the shares of an open-end or closed-end management type investment company or investment trust which is registered under the Federal Investment Company Act of 1940 as from time to time amended and which may be sold under the rules and exemptions of the insurance department of the state of New Hampshire, as a prudent person would purchase for the person’s own investment, having primarily in view the preservation of the principal and the amount and regularity of the income to be derived from it; provided, however, that no guardian of the estate of a beneficiary of the Department of Veterans Affairs shall invest funds of the minor’s estate under this paragraph.
I. In notes secured by mortgage of real estate at least double in value of the notes, or in notes or bonds secured by mortgage insured by the United States Secretary of Housing and Urban Development and guaranteed by the United States of America.
Terms Used In New Hampshire Revised Statutes 463:26
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Personal property: All property that is not real property.
- real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
- 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
- United States: shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. By deposit in some incorporated savings bank in this state or in the savings department of a national bank or trust company located in this state, or in shares of any building and loan association or cooperative bank, incorporated and doing business under the laws of this state, or in the shares of any federal savings and loan association, located and doing business in this state.
III. In such other stocks, bonds, or securities as are legal investments for savings banks in this state; provided, however, that no guardian of the estate of a minor who is a beneficiary of the Department of Veterans Affairs shall invest any funds of the minor under this paragraph without the written consent of the court, except that the guardian may invest without prior consent in direct unconditional interest bearing obligations the interest and principal of which are unconditionally guaranteed by the United States.
IV. With the consent of the court, in life, death, and annuity contracts of life insurance companies authorized to do business in this state.
V. In such stocks, bonds or other securities, including the shares of an open-end or closed-end management type investment company or investment trust which is registered under the Federal Investment Company Act of 1940 as from time to time amended and which may be sold under the rules and exemptions of the insurance department of the state of New Hampshire, as a prudent person would purchase for the person’s own investment, having primarily in view the preservation of the principal and the amount and regularity of the income to be derived from it; provided, however, that no guardian of the estate of a beneficiary of the Department of Veterans Affairs shall invest funds of the minor’s estate under this paragraph.