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RSA 293-A:7.48 · Shareholder Action to Appoint Custodian or Receiver

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

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293-A:7.48 Shareholder Action to Appoint Custodian or Receiver. –

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(a)

The superior court of the county where a corporation's principal office (or, if none in this state, its registered office) is located may appoint one or more persons to be custodians, or, if the corporation is insolvent, to be receivers, of and for a corporation in a proceeding by a shareholder where it is established that:

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(1)

the directors are deadlocked in the management of the corporate affairs, the shareholders are unable to break the deadlock, and irreparable injury to the corporation is threatened or being suffered; or

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(2)

the directors or those in control of the corporation are acting fraudulently and irreparable injury to the corporation is threatened or being suffered.

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(b)

The court:

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(1)

may issue injunctions, appoint a temporary custodian or temporary receiver with all the powers and duties the court directs, take other action to preserve the corporate assets wherever located, and carry on the business of the corporation until a full hearing is held;

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(2)

shall hold a full hearing, after notifying all parties to the proceeding and any interested persons designated by the court, before appointing a custodian or receiver; and

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(3)

has jurisdiction over the corporation and all of its property, wherever located.

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(c)

The court may appoint an individual or domestic or foreign corporation (authorized to transact business in this state) as a custodian or receiver and may require the custodian or receiver to post bond, with or without sureties, in an amount the court directs.

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(d)

The court shall describe the powers and duties of the custodian or receiver in its appointing order, which may be amended from time to time. Among other powers:

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(1)

a custodian may exercise all of the powers of the corporation, through or in place of its board of directors, to the extent necessary to manage the business and affairs of the corporation; and

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(2)

a receiver (i) may dispose of all or any part of the assets of the corporation wherever located, at a public or private sale, if authorized by the court; and (ii) may sue and defend in the receiver's own name as receiver in all courts of this state.

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(e)

The court during a custodianship may redesignate the custodian a receiver, and during a receivership, may redesignate the receiver a custodian if doing so is in the best interests of the corporation.

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(f)

The court from time to time during the custodianship or receivership may order compensation paid and expense disbursements or reimbursements made to the custodian or receiver from the assets of the corporation or proceeds from the sale of its assets. Source. 2013, 142:1, eff. Jan. 1, 2014. Subchapter A. Board of Directors Directors and Officers

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Source note

Source. 2013, 142:1, eff. Jan. 1, 2014. Subchapter A. Board of Directors Directors and Officers

Source history

2013, 142:1, eff. Jan. 1, 2014. Subchapter A. Board of Directors Directors and Officers

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Bill relationships

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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
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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,
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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,
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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,
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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