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RSA 162-I:12 · Trustees and Trust Funds
162-I:12 Trustees and Trust Funds. – Any bank, trust company, or any other financial institution which has power to act as a trustee, whether within or outside the state may serve as trustee for the benefit of bondholders under a security document. Such trustee may at any time own all or any part of the bonds issued under that security document, unless otherwise provided therein. All moneys received or held by the authority or by a trustee pursuant to a financing or security document, other than funds received or held by the authority for its own use, shall be deemed to be trust funds and shall be held and applied solely in accordance with the applicable document, but the person paying such money to the authority or the trustee shall not in any way be bound to see to the proper application thereof. Source. 1975, 98:1. 1992, 262:7, eff. May 15, 1992.
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Source. 1975, 98:1. 1992, 262:7, eff. May 15, 1992.
Source history
- 1975, 98:1
- 1992, 262:7, eff. May 15, 1992
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Bill relationships
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2026 SB56
reference · effective 2031-07-01
ll not restrict or limit in any manner the exercise by the BFA of its rights, powers, duties or purposes, or to its ownership and holding of properties and assets under RSA 162-A, RSA 162-I, RSA 162-S, RSA 162-T or any other provision of law applicable to the BFA, including without limitation the power of the BFA to issue bonds under said chapters RSA 162-A, RSA 162-I, RSA 162-S, RSA 162-T or under any suc
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2026 SB56
reference · effective 2031-07-01
st one signature on every bond shall be manual, unless the bond bears a manual authentication or certification by a bank, trust company or other financial institution described in RSA 162-I:12, in which case each signature on behalf of the authority may be facsimile. Interest coupons, if any, shall bear the facsimile signature of one of the persons signing the bond on behalf of the authority. Bonds shall also