RSA 564-B:1-110 · Others Treated as Qualified Beneficiaries

564-B:1-110 Others Treated as Qualified Beneficiaries. –

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(a)

A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this chapter if the charitable organization, on the date the charitable organization's qualification is being determined:

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(1)

is a distributee or permissible distributee of trust income or principal;

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(2)

would be a distributee or permissible distributee of trust income or principal upon the termination of the interests of the distributees then receiving or eligible to receive distributions; or

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(3)

would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

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(b)

A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in RSA 564-B:4-408 or RSA 564-B:4-409 has the rights of a qualified beneficiary under this chapter.

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(c)

The director of charitable trusts has the rights of a qualified beneficiary with respect to a charitable trust having its principal place of administration in this state if the charitable trust describes a charitable purpose but does not designate a specific charitable organization as a beneficiary for that charitable purpose and if trust income or principal, on the date the qualification is being determined:

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(A)

is distributable to carry out the charitable purpose;

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(B)

would be distributable to carry out the charitable purpose upon the termination of the interests of the distributees or permissible distributees then receiving or eligible to receive distributions; or

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(C)

would be distributable to carry out the charitable purpose if the trust terminated on that date.

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(d)

No provision of this chapter shall limit the authority of the director of charitable trusts to supervise and control charitable organizations. Source. 2004, 130:1. 2005, 270:5. 2006, 320:50, eff. Aug. 19, 2006.

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