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RSA 292:24 · Charters of Voluntary Corporations Created by Legislative Act
292:24 Charters of Voluntary Corporations Created by Legislative Act. – Every voluntary corporation created by an act of the legislature which is a private foundation as defined in section 509(a) of the United States Internal Revenue Code of 1954, and which is in existence on the effective date of this section, or which is thereafter created by an act of the legislature, is subject to the following provisions, whether they are set forth in the legislative charter or not:
Copy linkA corporation which is a "private foundation" as defined in section 509(a) of the Internal Revenue Code of 1954, shall not:
Copy linkEngage in any act of "self-dealing" (as defined in section 4941(d) of the Internal Revenue Code of 1954), which would give rise to any liability for the tax imposed by section 4941(a) of the Internal Revenue Code of 1954;
Copy linkRetain any "excess business holdings" (as defined in section 4943(c) of the Internal Revenue Code of 1954), which would give rise to any liability for the tax imposed by section 4943(a) of the Internal Revenue Code of 1954;
Copy linkMake any investment which would jeopardize the carrying out of any of its exempt purposes, within the meaning of section 4944 of the Internal Revenue Code of 1954, so as to give rise to any liability for the tax imposed by section 4944(a) of the Internal Revenue Code of 1954; or,
Copy linkMake any "taxable expenditures" (as defined in section 4945(d) of the Internal Revenue Code of 1954) which would give rise to any liability for the tax imposed by section 4945(a) of the Internal Revenue Code of 1954.
Copy linkEach corporation which is a "private foundation" as defined in section 509 of the Internal Revenue Code of 1954 shall distribute, for the purposes specified in the act of incorporation, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of the Internal Revenue Code of 1954.
Copy linkNothing in this subdivision impairs the rights and powers of the courts or of the attorney general with respect to any corporation.
Copy linkAll references to sections of the Internal Revenue Code of 1954 include amendments to those sections which are made after the effective date of this section, and include all corresponding provisions of any United States internal revenue laws which replace the Internal Revenue Code of 1954. Source. 1971, 379:1, eff. Aug. 27, 1971. Renewal of Charter
Copy linkSource note
Source. 1971, 379:1, eff. Aug. 27, 1971. Renewal of Charter
Source history
- 1971, 379:1, eff. Aug. 27, 1971. Renewal of Charter
Related materials
Bill relationships
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2026 HB1323
reference · effective 2027-01-01
association shall be comprised of all assessable entities. II. The New Hampshire children's behavioral health association shall be a not-for-profit, voluntary corporation under RSA 292 and shall possess all general powers of a not-for-profit corporation. III. The board of directors shall include: (a) Three representatives selected from the assessable entities currently writing, maintaining, or adm
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2026 HB1323-FN
reference · effective 2027-01-01
association shall be comprised of all assessable entities. II. The New Hampshire children's behavioral health association shall be a not-for-profit, voluntary corporation under RSA 292 and shall possess all general powers of a not-for-profit corporation. III. The board of directors shall include: (a) Three representatives selected from the assessable entities currently writing, maintaining, or adm
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2026 HB1415
reference
by this subdivision shall be deemed and held to be the performance of public and essential governmental functions. The authority shall be a nonprofit corporation organized under RSA 292. II. The authority shall be governed by a board of directors composed of 11 members. A chairperson shall be elected from among the members. III. Board members shall be as follows: (a) One member of the sena
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2026 HB1415-FN
reference
by this subdivision shall be deemed and held to be the performance of public and essential governmental functions. The authority shall be a nonprofit corporation organized under RSA 292. II. The authority shall be governed by a board of directors composed of 11 members. A chairperson shall be elected from among the members. III. Board members shall be as follows: (a) One member of the sena
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2026 HB1748
reference · effective 2027-01-01
slature shall be deemed and held to be the performance of public and essential governmental functions of the state. The authority shall be a nonprofit corporation organized under RSA 292. 362-J:4 Board of Directors; Organization. The authority shall be governed by a board of 10 directors. I. The 10 directors shall include: (a) The commissioner of the department of energy or designee. (b
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2026 HB1748-FN
reference · effective 2027-01-01
slature shall be deemed and held to be the performance of public and essential governmental functions of the state. The authority shall be a nonprofit corporation organized under RSA 292. 362-J:4 Board of Directors; Organization. The authority shall be governed by a board of 10 directors. I. The 10 directors shall include: (a) The commissioner of the department of energy or designee. (b
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2026 HB1753
reference
by this subdivision shall be deemed and held to be the performance of public and essential governmental functions. The authority shall be a nonprofit corporation organized under RSA 292. II. The authority shall be governed by a board of directors composed of 22 members. Voting members shall not appoint designees to act in their places. A chairperson shall be elected from among the members. III
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2026 HB1753-FN
reference
by this subdivision shall be deemed and held to be the performance of public and essential governmental functions. The authority shall be a nonprofit corporation organized under RSA 292. II. The authority shall be governed by a board of directors composed of 22 members. Voting members shall not appoint designees to act in their places. A chairperson shall be elected from among the members. III
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2026 HB186
reference
n. ?Amend RSA 304-C:149 by inserting after paragraph VIII the following new paragraph: IX. ?In the case of the conversion of an alternative treatment center registered under RSA 126-X and organized pursuant to RSA 292, such conversion shall be approved by the board of directors in accordance with RSA 126-X:8, XX. 35 Appropriations. I. The sum of $7,000,000 for the fiscal year ending June 30, 2026 is appropriated to the cann
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2026 HB186-FN-A
reference
business corporation organized under RSA 293-A, a domestic limited liability company organized under RSA 304-C, or a not-for-profit [entity] voluntary corporation organized under RSA 292 that is registered under RSA 126-X:7 and that acquires, possesses, cultivates, manufactures, delivers, transfers, transports, sells, supplies, and dispenses cannabis, and related supplies and educational materials, to q
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2026 HB54
reference
n. ?Amend RSA 304-C:149 by inserting after paragraph VIII the following new paragraph: IX. ?In the case of the conversion of an alternative treatment center registered under RSA 126-X and organized pursuant to RSA 292, such conversion shall be approved by the board of directors in accordance with RSA 126-X:8, XX. 9 Effective Date. This act shall take effect 60 days after its passage. LBA 25-0010 11/21/24 HB 54-FN- FISCAL NO
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2026 HB54-FN
reference
business corporation organized under RSA 293-A, a domestic limited liability company organized under RSA 304-C, or a not-for-profit [entity] voluntary corporation organized under RSA 292 that is registered under RSA 126-X:7 and that acquires, possesses, cultivates, manufactures, delivers, transfers, transports, sells, supplies, and dispenses cannabis, and related supplies and educational materials, to q