New Hampshire Revised Statutes 564-F:20-2013 – Judicial Dissolution
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(a) A court may dissolve a foundation if:
(1) The foundation procured its certificate of formation through fraud, duress, or undue influence;
(2) The foundation’s purposes are not lawful or are contrary to the public policy of this state;
(3) The foundation has exceeded or abused its lawful authority under this chapter;
(4) The foundation has carried on, conducted, or transacted its affairs in a persistently fraudulent or illegal manner; or
(5) The foundation has abused its power contrary to the public policy of this state.
(b) A court may dissolve a foundation if:
(1) All of the foundation officials consent to the termination;
(2) All of the beneficiaries consent to the termination;
(3) To the extent that the foundation is a charitable trust, the director of charitable trusts consents to the dissolution; and
(4) The dissolution does not violate any of the foundation’s material purposes.
(c) A court may dissolve a foundation if:
(1) Because of circumstances that the founder did not anticipate, the dissolution will further the foundation’s purposes; and
(2) The dissolution does not violate any of the foundation’s material purposes.
(d) Any of the following persons may commence a judicial proceeding seeking the foundation’s dissolution under this section:
(1) A foundation official;
(2) A beneficiary unless the governing documents prohibit the beneficiary from commencing a judicial proceeding seeking the foundation’s dissolution;
(3) To the extent that the foundation is a charitable trust, the director of charitable trusts; and
(4) With respect to a dissolution under subsection (a), the attorney general.
(1) The foundation procured its certificate of formation through fraud, duress, or undue influence;
Terms Used In New Hampshire Revised Statutes 564-F:20-2013
- 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
- Fraud: Intentional deception resulting in injury to another.
- 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
(2) The foundation’s purposes are not lawful or are contrary to the public policy of this state;
(3) The foundation has exceeded or abused its lawful authority under this chapter;
(4) The foundation has carried on, conducted, or transacted its affairs in a persistently fraudulent or illegal manner; or
(5) The foundation has abused its power contrary to the public policy of this state.
(b) A court may dissolve a foundation if:
(1) All of the foundation officials consent to the termination;
(2) All of the beneficiaries consent to the termination;
(3) To the extent that the foundation is a charitable trust, the director of charitable trusts consents to the dissolution; and
(4) The dissolution does not violate any of the foundation’s material purposes.
(c) A court may dissolve a foundation if:
(1) Because of circumstances that the founder did not anticipate, the dissolution will further the foundation’s purposes; and
(2) The dissolution does not violate any of the foundation’s material purposes.
(d) Any of the following persons may commence a judicial proceeding seeking the foundation’s dissolution under this section:
(1) A foundation official;
(2) A beneficiary unless the governing documents prohibit the beneficiary from commencing a judicial proceeding seeking the foundation’s dissolution;
(3) To the extent that the foundation is a charitable trust, the director of charitable trusts; and
(4) With respect to a dissolution under subsection (a), the attorney general.