HB 1173 – AS INTRODUCED
2008 SESSION
09/10
HOUSE BILL 1173
AN ACT relative to the definition of a trust.
SPONSORS: Rep. Bishop, Rock 2; Rep. Mooney, Hills 19; Rep. DiFruscia, Rock 4; Rep. Welch, Rock 8; Sen. Barnes, Dist 17
This bill excludes certain trusts and easements established for conservation or preservation from the definition of “trust” for purposes of the provisions regarding trusts under RSA 564-A.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
08-2114
09/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eight
AN ACT relative to the definition of a trust.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Definition of “Trust.” Amend RSA 564-A:1, I to read as follows:
I. “Trust” means an express trust created by a trust instrument, including a will, whereby a trustee has the duty to administer a trust asset for the benefit of a named or otherwise described income or principal beneficiary, or both; “trust” does not include a resulting or constructive trust, a business trust which provides for certificates to be issued to the beneficiary, an investment trust, a voting trust, a security instrument, a trust created by the judgment or decree of a court, a liquidation trust, or a trust for the primary purpose of paying dividends, interest, interest coupons, salaries, wages, pensions or profits, or employee benefits of any kind, an instrument wherein a person is nominee or escrowee for another, a trust created in deposits in any financial institution, a trust or an easement for conservation or preservation established for the good of the federal, state, county, or municipal government and its residents, or other trust the nature of which does not admit of general trust administration;
2 Effective Date. This act shall take effect January 1, 2009.