New Hampshire Revised Statutes 564-F:17-1702 – Reformation
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(a) A court may reform a foundation’s certificate of formation or its bylaws for purposes of conforming the certificate of formation or the bylaws to the founder’s intent if:
(1) Whether in the expression or inducement, the foundation’s certificate of formation or its bylaws were affected by a mistake of fact, a mistake of law, or both a mistake of fact and a mistake of law; and
(2) The founder’s intent is proven by clear and convincing evidence;
(3) The mistake is proven by clear and convincing evidence; and
(4) The reformation does not violate any of the foundation’s material purposes.
(b) A court may reform a foundation’s certificate of formation or its bylaws for purposes of achieving the founder’s tax objectives if:
(1) The reformation is consistent with the founder’s intent; and
(2) The reformation does not violate any of the foundation’s material purposes.
(c) A reformation under this section may be retroactive or prospective.
(d) Any of the following persons may commence a judicial proceeding seeking reformation of a foundation’s certificate of formation or its bylaws under this section:
(1) A founder;
(2) A foundation official;
(3) Unless the governing documents provide otherwise, a beneficiary; and
(4) To the extent that the foundation is a charitable trust, the director of charitable trusts.
(1) Whether in the expression or inducement, the foundation’s certificate of formation or its bylaws were affected by a mistake of fact, a mistake of law, or both a mistake of fact and a mistake of law; and
Terms Used In New Hampshire Revised Statutes 564-F:17-1702
- 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
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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
(2) The founder’s intent is proven by clear and convincing evidence;
(3) The mistake is proven by clear and convincing evidence; and
(4) The reformation does not violate any of the foundation’s material purposes.
(b) A court may reform a foundation’s certificate of formation or its bylaws for purposes of achieving the founder’s tax objectives if:
(1) The reformation is consistent with the founder’s intent; and
(2) The reformation does not violate any of the foundation’s material purposes.
(c) A reformation under this section may be retroactive or prospective.
(d) Any of the following persons may commence a judicial proceeding seeking reformation of a foundation’s certificate of formation or its bylaws under this section:
(1) A founder;
(2) A foundation official;
(3) Unless the governing documents provide otherwise, a beneficiary; and
(4) To the extent that the foundation is a charitable trust, the director of charitable trusts.