RSA 564-F:21-2121 · Effects of Domestication

564-F:21-2121 Effects of Domestication. –

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(a)

Upon its domestication, a foreign foundation shall be:

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(1)

Domesticated as foundation; and

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(2)

Subject to this chapter in the same manner as a foundation originally formed under this chapter.

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(b)

Notwithstanding the effective date of the domestication or this chapter, a domesticated foundation's existence shall be deemed to have commenced on the date that its existence commenced in the jurisdiction in which it was originally formed.

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(c)

All title to real property and other property owned by a foundation before its domestication and all contractual rights possessed by a foundation before its domestication shall remain vested in the foundation without reversion or impairment.

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(d)

Domestication shall not affect:

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(1)

Any obligations or liabilities that a foundation incurred before its domestication;

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(2)

The personal liability of any person for any of the obligations or liabilities described in subsection (b)(1); or

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(3)

The laws applicable to a foundation before the filing of its certificate of formation. Source. 2017, 257:47, eff. Oct. 1, 2017. ARTICLE 22 Reports and Other Filings

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