(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.
‹ Prev All New Hampshire sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.