HB1513 (2006) Detail

Requiring legislative approval for changes to the purpose of a special corporation.


HB 1513 – AS INTRODUCED

2006 SESSION

06-2607

03/10

HOUSE BILL 1513

AN ACT requiring legislative approval for changes to the purpose of a special corporation.

SPONSORS: Rep. Hagan, Hills 17; Rep. Cady, Rock 1

COMMITTEE: Commerce

ANALYSIS

This bill requires legislative approval for changes to the purpose of a special corporation.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

06-2607

03/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Six

AN ACT requiring legislative approval for changes to the purpose of a special corporation.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Special Corporations; Change of Purpose. Amend RSA 292:8-l, II to read as follows:

II. With prior legislative approval, change its purpose by a majority vote of said corporation. A written notice of the proposed change shall be provided to the director of charitable trusts, department of justice and the notice of proposed changes shall be published in a newspaper of general circulation by the trustees at least 30 days before the vote is taken. The proposed change shall also be submitted for review by the probate court. If legal cause exists which would prevent the proposed change in purpose, the director of charitable trusts shall have 30 days to notify the corporation of any additional requirements. A certified copy of the vote shall be filed in the office of the secretary of state. The fee for recording said certified copy in the office of the secretary of state shall be $10. Nothing in this paragraph shall be construed to supercede the intent of RSA 7:19RSA 7:32-a.

2 Effective Date. This act shall take effect 60 days after its passage.