New Hampshire Revised Statutes 6:38 – New Hampshire Excellence in Higher Education Endowment Trust Fund Established
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I. There is hereby established in the office of the treasurer the New Hampshire excellence in higher education endowment trust fund which shall be kept distinct and separate from all other funds. Annual assessments less any annual administrative costs received from the New Hampshire college tuition savings plan established under N.H. Rev. Stat. Chapter 195-H shall be credited to the trust fund to provide scholarships for the benefit of residents of the state pursuing programs of study at eligible educational institutions within the state.
II. The state treasurer shall be the trustee of the trust fund established in this chapter, 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.
III. All moneys in the trust fund shall be nonlapsing and shall be continually appropriated to the commission for purposes of providing education scholarships under this subdivision.
II. The state treasurer shall be the trustee of the trust fund established in this chapter, 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.
Terms Used In New Hampshire Revised Statutes 6:38
- 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.
III. All moneys in the trust fund shall be nonlapsing and shall be continually appropriated to the commission for purposes of providing education scholarships under this subdivision.