RSA 564-F:7-701 · Bylaws

564-F:7-701 Bylaws. –

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(a)

The founder, organizers, or initial directors shall adopt the foundation's initial bylaws.

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(b)

The foundation's bylaws shall set forth each of the foundation's purposes.

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(c)

Except to the extent that it is inconsistent with the certificate of formation, this chapter, or any other applicable law, the foundation's bylaws may set forth any of the following:

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(1)

Any provision defining, limiting, or regulating capital contributions;

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(2)

Any provision defining, limiting, or regulating a founder's rights, powers, and interests in the foundation;

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(3)

Any provision defining, limiting, or regulating the manner in which the foundation property may be applied, distributed, or accumulated;

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(4)

Any provision imposing obligations upon beneficiaries as a condition of any distribution or other benefit;

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(5)

Any provision for the revocable or irrevocable addition of one or more beneficiaries or classes of beneficiaries;

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(6)

Any provision for the revocable or irrevocable elimination of one or more beneficiaries or classes of beneficiaries;

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(7)

Any provision defining, limiting, or regulating the duties, powers, and liabilities of one or more foundation officials or classes of foundation officials;

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(8)

Any provision regarding the appointment, resignation, and removal of foundation officials;

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(9)

A nonjudicial dispute resolution provision in accordance with RSA 564-F:16-1606;

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(10)

A no-contest provision in accordance with RSA 564-F:14-1404; and

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(11)

Any provision regarding any other matter that the founder or the board of directors deems necessary or advisable. Source. 2017, 257:47, eff. Oct. 1, 2017.

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