New Hampshire Revised Statutes 6-D:1 – Drinking Water and Groundwater Trust Fund Established
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Terms Used In New Hampshire Revised Statutes 6-D:1
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- 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
- Trustee: A person or institution holding and administering property in trust.
There is hereby established in the office of the treasurer the drinking water and groundwater trust fund which shall be kept distinct and separate from all other funds. After transferring 10 percent of the funds to the revenue stabilization reserve account as provided in N.H. Rev. Stat. § 7:6-e, the remainder of all proceeds received by the state fromState v. Exxon Corp., et al., in which the state sued for damages related to MTBE contamination, shall be placed in the trust fund. The state treasurer shall be the trustee of the trust fund, and shall invest the trust fund in accordance with N.H. Rev. Stat. § 6:8. Any earnings on trust fund moneys shall be added to the trust fund. All moneys in the trust fund shall be nonlapsing and shall be continually appropriated to the state treasurer. The state treasurer shall disburse funds from the trust fund solely for the purposes and in the manner set forth in RSA 485-F.