Live Free or Die Legal
This website is not an official source of law. This website does not provide legal advice. For official legal materials, verify against the relevant court, legislature, agency, or other official source. Legal information may be incomplete, outdated, or incorrectly processed. Consult a qualified attorney for advice about a specific legal matter.

This RSA section is an unofficial mirror, is not legal advice, and may be incomplete, outdated, or incorrectly processed.

RSA 293-A:3.05 · Trust Powers

Title
XXVII: CORPORATIONS, ASSOCIATIONS, AND PROPRIETORS OF COMMON LANDS
Chapter
293-A · NEW HAMPSHIRE BUSINESS CORPORATION ACT
Status
current
Official source linked
Yes
Official source Copy section link

293-A:3.05 Trust Powers. –

Copy link
(a)

A corporation shall have trust powers to the extent that it:

Copy link
(1)

Does not transact business with the general public; or

Copy link
(2)

Is a bank as defined in RSA 383-A:2-201(a)(3) and is authorized to engage in trust business in this state under RSA 383-A, RSA 383-B, RSA 383-C, or RSA 383-D.

Copy link
(b)

Trust powers include the power to act as a trustee or other fiduciary, a trust advisor as defined in RSA 564-B:1-103(27), or a trust protector as defined in RSA 564-B:1-103(28).

Copy link
(c)

For purposes of subsection (a)(1), a corporation does not transact business with the general public to the extent that the corporation:

Copy link
(1)

Qualifies as a family office under 15 U.S.C. section 80b-2(a)(11)(G); or

Copy link
(2)

Offers and provides its services only to persons who would qualify as family clients as defined in RSA 383-D:2-201(b)(5) if the corporation was chartered as a family trust company under RSA 383-D.

Copy link
(d)

For purposes of subsection (c)(2), a corporation may use any reasonable method for:

Copy link
(1)

Identifying a designated relative as defined in RSA 383-D:2-201(b)(2); and

Copy link
(2)

Selecting a method for determining family members as described in RSA 383-D:4-402(b)(2) or (c).

Copy link
(e)

A corporation described in subsection (a)(1) shall be exempt from RSA Title 35 and shall not be subject to the jurisdiction of the New Hampshire bank commissioner.

Copy link
(f)

To the extent that a corporation other than a corporation described in subsection (a)(2) transacts business with the general public, the following shall apply:

Copy link
(1)

Any action by the corporation shall not be void or voidable solely by reason of the corporation transacting business with the general public.

Copy link
(2)

Each of the corporation's directors and officers shall be personally, jointly, and severally liable for all liabilities created by the corporation transacting business with the general public, including any breach of a fiduciary duty to a member of the general public.

Copy link
(3)

A director's or officer's liability under subsection (f)(2) is in addition to any civil or criminal penalties imposed by applicable law.

Copy link
(g)

This section does not restrict the rights and remedies of any person affected by a corporation's exercise of trust powers, including the right to commence a judicial proceeding seeking:

Copy link
(1)

A remedy for a breach of trust under RSA 564-B:10-1001;

Copy link
(2)

Damages for a breach of trust under RSA 564-B:10-1002; or

Copy link
(3)

Damages under RSA 564-B:10-1003. Source. 2017, 257:32, eff. July 18, 2017. Name

Copy link

Source note

Source. 2017, 257:32, eff. July 18, 2017. Name

Source history

  • 2017, 257:32, eff. July 18, 2017. Name

Related materials

Bill relationships

  • 2026 HB1629 amend · effective 2027-07-01

    nce with RSA 77-A:18 [and RSA 77-E:12]. 19 Corporations, Associations, and Proprietors of Common Lands; Dissolution; Reinstatement Following Administrative Dissolution. Amend RSA 293-A.14.22, (a)(4) to read as follows: (4) contain a certificate from the department of revenue administration in accordance with RSA 77-A:18, III[, and RSA 77-E:12, III,] if such application is received by the secretary

  • 2026 HB1629-FN amend · effective 2027-07-01

    nce with RSA 77-A:18 [and RSA 77-E:12]. 19 Corporations, Associations, and Proprietors of Common Lands; Dissolution; Reinstatement Following Administrative Dissolution. Amend RSA 293-A.14.22, (a)(4) to read as follows: (4) contain a certificate from the department of revenue administration in accordance with RSA 77-A:18, III[, and RSA 77-E:12, III,] if such application is received by the secretary

  • 2026 HB186 reference

    A 126-X:8, XX, convert to either a domestic corporation organized under RSA 293-A or a limited liability company organized under to RSA 304-C, and may merge with a domestic business corporation organized under RSA 293-A or a limited liability company organized under RSA 304-C. 32 New Subparagraph; New Hampshire Business Corporation Act; Domestication and Conversion; Entity Conversion Authorized. ?Amend RSA 293-A:9.50 by inser

  • 2026 HB186-FN-A amend

    es; Definitions; Alternative Treatment Center. ? Amend RSA 126-X:1, I to read as follows: I. "Alternative treatment center" means a domestic 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,

  • 2026 HB54 reference

    A 126-X:8, XX, convert to either a domestic corporation organized under RSA 293-A or a limited liability company organized under to RSA 304-C, and may merge with a domestic business corporation organized under RSA 293-A or a limited liability company organized under RSA 304-C. 6 New SubParagraph; New Hampshire Business Corporation Act; Domestication and Conversion; Entity Conversion Authorized. ?Amend RSA 293-A:9.50 by insert

  • 2026 HB54-FN amend

    ses; Definitions; Alternative Treatment Center. ? Amend RSA 126-X:1, I to read as follows: I. "Alternative treatment center" means a domestic 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,

  • 2026 SB479 amend

    ses; Definitions; Alternative Treatment Center. ? Amend RSA 126-X:1, I to read as follows: I. "Alternative treatment center" means a domestic 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,

  • 2026 SB479-FN amend

    ses; Definitions; Alternative Treatment Center. ? Amend RSA 126-X:1, I to read as follows: I. "Alternative treatment center" means a domestic 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,

  • 2026 SB651 amend

    ; Definition of Alternative Treatment Center. Amend RSA 126-X:1, I to read as follows: I. "Alternative treatment center" means a domestic 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 that acquires, possesses, cultivates, manu

  • 2026 SB651-FN-A amend

    ; Definition of Alternative Treatment Center. Amend RSA 126-X:1, I to read as follows: I. "Alternative treatment center" means a domestic 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 that acquires, possesses, cultivates, manu