§ 564-F:7-701 — Bylaws

(a) The founder, organizers, or initial directors shall adopt the foundation's initial bylaws.
(b) The foundation's bylaws shall set forth each of the foundation's purposes.
(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:
(1) Any provision defining, limiting, or regulating capital contributions;
(2) Any provision defining, limiting, or regulating a founder's rights, powers, and interests in the foundation;
(3) Any provision defining, limiting, or regulating the manner in which the foundation property may be applied, distributed, or accumulated;
(4) Any provision imposing obligations upon beneficiaries as a condition of any distribution or other benefit;
(5) Any provision for the revocable or irrevocable addition of one or more beneficiaries or classes of beneficiaries;
(6) Any provision for the revocable or irrevocable elimination of one or more beneficiaries or classes of beneficiaries;
(7) Any provision defining, limiting, or regulating the duties, powers, and liabilities of one or more foundation officials or classes of foundation officials;
(8) Any provision regarding the appointment, resignation, and removal of foundation officials;
(9) A nonjudicial dispute resolution provision in accordance with RSA 564-F:16-1606;
(10) A no-contest provision in accordance with RSA 564-F:14-1404; and
(11) Any provision regarding any other matter that the founder or the board of directors deems necessary or advisable.

Legislative History

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