New Hampshire Revised Statutes 498:4-a – Cy Pres Doctrine
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I. The superior court shall exercise jurisdiction pursuant to N.H. Rev. Stat. § 498:4-a through N.H. Rev. Stat. § 498:4-e only where the claims or defenses raised are related to a matter otherwise pending before or within the jurisdiction of the superior court. In all other cases involving the doctrine of cy pres, jurisdiction shall lie in the probate court.
II. If property is or has been given in trust to be applied to a charitable purpose, and said purpose or its application is or becomes impossible or impracticable or illegal or obsolete or ineffective or prejudicial to the public interest to carry out, the trust will not fail. Upon petition by the trustee or trustees or the attorney general, the superior court may direct the application of the property to some charitable purpose which is useful to the community, and which charitable purpose fulfills as nearly as possible the general charitable intent of the settlor or testator. In applying the doctrine of cy pres, the court may order the distribution of the trust assets to another charitable trustor to a charitable corporation to be held and administered by it in accordance with the terms of the governing instrument as said terms may be modified by the application of cy pres under this section and N.H. Rev. Stat. § 498:4-b.
III. Prior to any court proceeding under this chapter on the intent to offer for sale or change the use of any land, buildings, or both, given, devised, or bequeathed to the town for charitable purposes, the municipality shall hold at least one public hearing with no less than 14 days notice.
II. If property is or has been given in trust to be applied to a charitable purpose, and said purpose or its application is or becomes impossible or impracticable or illegal or obsolete or ineffective or prejudicial to the public interest to carry out, the trust will not fail. Upon petition by the trustee or trustees or the attorney general, the superior court may direct the application of the property to some charitable purpose which is useful to the community, and which charitable purpose fulfills as nearly as possible the general charitable intent of the settlor or testator. In applying the doctrine of cy pres, the court may order the distribution of the trust assets to another charitable trustor to a charitable corporation to be held and administered by it in accordance with the terms of the governing instrument as said terms may be modified by the application of cy pres under this section and N.H. Rev. Stat. § 498:4-b.
Terms Used In New Hampshire Revised Statutes 498:4-a
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- petition: when used in connection with the equity jurisdiction of the superior court, and referring to a document filed with the court, shall mean complaint, and "petitioner" shall mean plaintiff. See New Hampshire Revised Statutes 21:51
- Probate: Proving a will
- Testator: A male person who leaves a will at death.
- Trustee: A person or institution holding and administering property in trust.
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
III. Prior to any court proceeding under this chapter on the intent to offer for sale or change the use of any land, buildings, or both, given, devised, or bequeathed to the town for charitable purposes, the municipality shall hold at least one public hearing with no less than 14 days notice.