New Hampshire § 162-I:12 Trustees and Trust Funds

New Hampshire Statutes

§ 162-I:12 — Trustees and Trust Funds

New Hampshire § 162-I:12

Title XIIPUBLIC SAFETY AND WELFARE

Ch. 162-IBUSINESS FINANCE AUTHORITY REVENUE BONDS

This text of New Hampshire § 162-I:12 (Trustees and Trust Funds) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 162-I:12 (2026).

Text

Any bank, trust company, or any other financial institution which has power to act as a trustee, whether within or outside the state may serve as trustee for the benefit of bondholders under a security document. Such trustee may at any time own all or any part of the bonds issued under that security document, unless otherwise provided therein. All moneys received or held by the authority or by a trustee pursuant to a financing or security document, other than funds received or held by the authority for its own use, shall be deemed to be trust funds and shall be held and applied solely in accordance with the applicable document, but the person paying such money to the authority or the trustee shall not in any way be bound to see to the proper application thereof.

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Any bank, trust company, or any other financial institution which has power to act as a trustee, whether within or outside the state may serve as trustee for the benefit of bondholders under a security document. Such trustee may at any time own all or any part of the bonds issued under that security document, unless otherwise provided therein. All moneys received or held by the authority or by a trustee pursuant to a financing or security document, other than funds received or held by the authority for its own use, shall be deemed to be trust funds and shall be held and applied solely in accordance with the applicable document, but the person paying such money to the authority or the trustee shall not in any way be bound to see to the proper application thereof.