RSA 564-F:17-1701 · Modification

564-F:17-1701 Modification. –

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(a)

A court may modify a foundation's certificate of formation or its bylaws if:

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(1)

All of the foundation officials consent to the modification;

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(2)

All of the beneficiaries consent to the modification;

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(3)

To the extent that the foundation is a charitable trust, the director of charitable trusts consents to the modification; and

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(4)

The modification does not violate any of the foundation's material purposes.

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(b)

A court may modify a foundation's certificate of formation or its bylaws if:

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(1)

Due to circumstances that the founder did not anticipate, modification will further the foundation's purposes;

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(2)

The modification is consistent with the founder's probable intent; and

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(3)

The modification does not violate any of the foundation's material purposes.

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(c)

A court may modify a foundation's certificate of formation or its bylaws if:

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(1)

The foundation's continuation would be impractical, wasteful, or impair the foundation's administration;

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(2)

The modification is consistent with the founder's intent; and

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(3)

The modification does not violate any of the foundation's material purposes.

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(d)

Any of the following persons may commence a judicial proceeding seeking modification of a foundation's certificate of formation or its bylaws under this section:

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(1)

A foundation official;

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(2)

Unless the governing documents provide otherwise, a beneficiary; or

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(3)

To the extent that the foundation is a charitable trust, the director of charitable trusts. Source. 2017, 257:47, eff. Oct. 1, 2017.

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