RSA 564-F:20-2007 · Other Claims Against Dissolved Foundation

564-F:20-2007 Other Claims Against Dissolved Foundation. –

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(a)

A dissolved foundation may publish notice of its dissolution and request that persons with claims against the dissolved foundation present them in accordance with the notice.

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(b)

The notice shall be published one time in a newspaper of general circulation in:

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(1)

The county in which the dissolved foundation's principal office in this state is located; or

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(2)

If the dissolved foundation does not have a principal office in this state, the county in which its registered office is located.

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(c)

The notice shall set forth:

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(1)

A description of the information that must be included in a claim;

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(2)

A mailing address where the claim may be sent; and

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(3)

A statement that a claim against the dissolved foundation will be barred unless a judicial proceeding to enforce the claim is commenced within three years after the publication of the notice.

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(d)

If a dissolved foundation publishes a newspaper notice in accordance with subsection (a), then a claimant's claim against the dissolved foundation shall be barred unless:

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(1)

The claimant was entitled to receive notice under RSA 564-F:20-2006;

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(2)

The claimant commences a judicial proceeding to enforce the claim against the dissolved foundation within three years after the publication date of the newspaper notice; or

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(3)

The claim is contingent or based on an event occurring after the effective date of the foundation's dissolution.

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(e)

A claim that is not barred by RSA 564-F:20-2006(d) or subsection (d) may be enforced against:

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(1)

To the extent of its undistributed assets, the dissolved foundation; or

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(2)

To the extent that a person has received a distribution in liquidation of the dissolved foundation and subject to subsection (f), the person who received the distribution.

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(f)

The total liability of a person against whom a claim is enforceable under subsection (e)(2) shall not exceed the lesser of:

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(1)

The person's pro-rata share of the claim; and

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(2)

The total amount of property that the person received as distributions in liquidation of the dissolved foundation. Source. 2017, 257:47, eff. Oct. 1, 2017.

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