New Hampshire § 564-F:14-1401 Nature of Beneficial Interests

New Hampshire Statutes

§ 564-F:14-1401 — Nature of Beneficial Interests

New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 564-F NEW HAMPSHIRE FOUNDATION ACT·Subdivision ARTICLE 14Beneficiaries

(a)Subject to subsection (b), a beneficiary's interest is a mere expectancy and is not a property interest or an enforceable right.

(b)A beneficiary's interest is a property interest to the extent that:

(1)The beneficiary has a currently exercisable power to appoint the foundation's property to himself, herself, or itself without the consent of any other person; or

(2)The directors have failed to make a distribution to the beneficiary in accordance with a provision of the governing documents requiring the directors to make that distribution.

(c)For the purposes of determining a beneficiary's interest, the founder's intent as expressed in the terms of the governing documents shall be paramount.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Subject to subsection (b), a beneficiary's interest is a mere expectancy and is not a property interest or an enforceable right.
(b) A beneficiary's interest is a property interest to the extent that:
(1) The beneficiary has a currently exercisable power to appoint the foundation's property to himself, herself, or itself without the consent of any other person; or
(2) The directors have failed to make a distribution to the beneficiary in accordance with a provision of the governing documents requiring the directors to make that distribution.
(c) For the purposes of determining a beneficiary's interest, the founder's intent as expressed in the terms of the governing documents shall be paramount.

New Hampshire § 564-F:14-1401 (Nature of Beneficial Interests) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.