RSA 195-E:3 · Loan Corporation Authorized

195-E:3 Loan Corporation Authorized. –

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I.

Any qualified educational institution may form a voluntary nonprofit corporation in accordance with this chapter for the purposes specified in this chapter. A qualified educational institution may form a loan corporation either:

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(a)

By organizing a new voluntary nonprofit corporation as provided in this chapter; or

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(b)

By amending the articles of agreement and bylaws of an existing voluntary nonprofit corporation organized under RSA 292 to conform the articles and bylaws to the requirements of RSA 195-E:5-9; or

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(c)

By adopting the articles of agreement and bylaws of an existing corporation validly organized by any other entity pursuant to subparagraphs (a) or (b); or

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(d)

By merging any voluntary nonprofit corporation organized under RSA 292 with any existing loan corporation validly organized by any other entity pursuant to subparagraphs (a) or (b).

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II.

The provisions of RSA 195-E:3-9 shall not apply to the foundation. Source. 1981, 229:1. 1983, 112:3, eff. May 25, 1983.

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