RSA 564-F:17-1703 · Cy Pres

564-F:17-1703 Cy Pres. –

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(a)

To the extent that a foundation is a charitable trust and one of its charitable purposes becomes impossible, impracticable, illegal, obsolete, ineffective, or prejudicial to the public interest to achieve, a court may apply cy pres for the following purposes:

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(1)

Modifying the foundation's certificate of formation or its bylaws; or

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(2)

Directing the foundation to apply or distribute some or all of its property to one or more charitable purposes that:

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(A)

Are useful to the community;

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(B)

Fulfills as nearly as possible the founder's charitable intent; and

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(C)

Do not violate any of the foundation's material purposes; or

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(3)

Terminating the foundation.

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(b)

Any of the following persons may commence a judicial proceeding seeking the application of cy pres to a foundation under this section:

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(1)

A foundation official;

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(2)

Unless the governing documents provide otherwise, a beneficiary; and

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(3)

The director of charitable trusts. Source. 2017, 257:47, eff. Oct. 1, 2017. ARTICLE 18 Breach of Duty

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