§ 564-F:20-2007 — Other Claims Against Dissolved Foundation

New Hampshire § 564-F:20-2007

• Jurisdiction: New Hampshire
• Title LVI: PROBATE COURTS AND DECEDENTS' ESTATES
• Ch. 564-F: NEW HAMPSHIRE FOUNDATION ACT
• Subdivision: Part AVoluntary Dissolution

Text

(a) A dissolved foundation may publish notice of its dissolution and request that persons with claims against the dissolved foundation present them in accordance with the notice.
(b) The notice shall be published one time in a newspaper of general circulation in:
(1) The county in which the dissolved foundation's principal office in this state is located; or
(2) If the dissolved foundation does not have a principal office in this state, the county in which its registered office is located.
(c) The notice shall set forth:
(1) A description of the information that must be included in a claim;
(2) A mailing address where the claim may be sent; and
(3) A statement that a claim against the dissolved foundation will be barred unless a judicial proceeding to enforce the claim is commenced within three years after the publication of the notice.
(d) If a dissolved foundation publishes a newspaper notice in accordance with subsection (a), then a claimant's claim against the dissolved foundation shall be barred unless:
(1) The claimant was entitled to receive notice under RSA 564-F:20-2006;
(2) The claimant commences a judicial proceeding to enforce the claim against the dissolved foundation within three years after the publication date of the newspaper notice; or
(3) The claim is contingent or based on an event occurring after the effective date of the foundation's dissolution.
(e) A claim that is not barred by RSA 564-F:20-2006(d) or subsection (d) may be enforced against:
(1) To the extent of its undistributed assets, the dissolved foundation; or
(2) To the extent that a person has received a distribution in liquidation of the dissolved foundation and subject to subsection (f), the person who received the distribution.
(f) The total liability of a person against whom a claim is enforceable under subsection (e)(2) shall not exceed the lesser of:
(1) The person's pro-rata share of the claim; and
(2) The total amount of property that the person received as distributions in liquidation of the dissolved foundation.

Legislative History

2017, 257:47, eff. Oct. 1, 2017.