PROBATE COURTS AND DECEDENTS' ESTATES
NEW HAMPSHIRE FOUNDATION ACT
(a) Any property may be contributed to a foundation's capital.
(b) After the initial contribution to a foundation's capital, additional contributions to a foundation's capital shall be made as follows:
(1) An additional contribution shall be made in substantial compliance with the provisions of the certificate of formation and bylaws concerning additional contributions; or
(2) If the certificate of formation and bylaws do not contain any provision concerning additional contributions, the additional contribution shall be made in accordance with the terms and conditions that the directors deem prudent, considering the foundation's purposes and the beneficiaries' interests.
(c) Subject to RSA 564-F:7-702(b), a founder shall not have any right, power, or interest in a foundation solely by reason of contributing property to the foundation.
Source. 2017, 257:47, eff. Oct. 1, 2017. 2018, 210:3, eff. June 8, 2018.