§ 292:19 — Collective Investments

Said charitable corporation may combine money and property belonging to various trusts in its care for the purpose of facilitating investments, providing diversification and obtaining a reasonable income; provided, however, that the participating contributory interest of said trusts shall be properly evidenced by appropriate bookkeeping entries showing on an annual basis the capital contribution of and the profit and income allocable to each trust; and provided, further, that not more than 10 percent of the fund shall be invested in the obligations of any one corporation or organization, excepting deposits in savings banks, obligations of the United States and of the state of New Hampshire and its subdivisions; and provided, further, that nothing herein shall be construed to authorize the investment of funds of a trust in any manner not authorized by law.

Legislative History

1955, 160:1 par. 18, eff. Jan. 1, 1956.