Bill Text - HB1393 (2010)

Establishing a commission to review and make suggestions for updating the treatment of New Hampshire investment trusts.


Revision: Dec. 10, 2009, midnight

HB 1393 – AS INTRODUCED

2010 SESSION

10-2543

08/04

HOUSE BILL 1393

AN ACT establishing a commission to review and make suggestions for updating the treatment of New Hampshire investment trusts.

SPONSORS: Rep. DeJoie, Merr 11

COMMITTEE: Commerce and Consumer Affairs

ANALYSIS

This bill establishes a commission to review and make suggestions for updating the treatment of New Hampshire investment trusts.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

10-2543

08/04

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Ten

AN ACT establishing a commission to review and make suggestions for updating the treatment of New Hampshire investment trusts.

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

1 Commission Established. There is established a commission to review and make suggestions for updating the treatment of New Hampshire investment trusts.

2 Membership and Compensation.

I. The members of the commission shall be as follows:

(a) Three members of the house of representatives, one of whom shall be from the finance committee and one of whom shall be from the commerce and consumer affairs committee, appointed by the speaker of the house of representatives.

(b) Three members of the senate, one of whom shall be from the finance committee and one of whom shall be from the commerce, labor, and consumer protection committee, appointed by the president of the senate.

(c) The banking commissioner, or designee.

II. Legislative members of the commission shall receive mileage at the legislative rate when attending to the duties of the commission.

3 Duties. The commission shall review and make suggestions for updating the treatment of New Hampshire investment trusts..

4 Chairperson; Quorum. The members of the study commission shall elect a chairperson from among the members. The first meeting of the commission shall be called by the first-named house member. The first meeting of the commission shall be held within 45 days of the effective date of this section. Four members of the commission shall constitute a quorum.

5 Report. The commission shall report its findings and any recommendations for proposed legislation to the speaker of the house of representatives, the president of the senate, the house clerk, the senate clerk, the governor, and the state library on or before November 1, 2010.

6 Effective Date. This act shall take effect upon its passage.

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