Bill Text: NH SB311 | 2018 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Clarifying rules of construction under the New Hampshire Trust Code.

Spectrum: Slight Partisan Bill (Republican 2-1)

Status: (Passed) 2018-06-04 - Signed by the Governor on 05/30/2018; Chapter 0120; Effective 05/30/2018 [SB311 Detail]

Download: New_Hampshire-2018-SB311-Introduced.html

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SB 311  - AS INTRODUCED

 

 

2018 SESSION

18-2732

08/01

 

SENATE BILL 311

 

AN ACT clarifying rules of construction under the New Hampshire Trust Code.

 

SPONSORS: Sen. D'Allesandro, Dist 20; Sen. Bradley, Dist 3; Rep. Hunt, Ches. 11

 

COMMITTEE: Commerce

 

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ANALYSIS

 

This bill clarifies the rules of construction under the New Hampshire Trust Code.

 

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

18-2732

08/01

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Eighteen

 

AN ACT clarifying rules of construction under the New Hampshire Trust Code.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  Purpose.  The purpose of this act is to clarify that, when the general court enacted RSA 564-B:1-112, it did not cause RSA 551:10 to apply to trusts.

2  New Hampshire Trust Code; Rules of Construction.  Amend RSA 564-B:1-112 to read as follows:

564-B:1-112  Rules of Construction.

(a)  The rules of construction that apply in this state to the interpretation of and disposition of property by will also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property.  For the purposes of this section, RSA 551:10 is not a rule of construction.  RSA 551:10 shall not apply to any trust.

(b)  In interpreting or construing the terms of a trust, the settlor's intent shall be sovereign to the extent that the settlor's intent is lawful, not contrary to public policy, and possible to achieve.

(c)  For the purposes of determining the benefit of the beneficiaries, the settlor's intent as expressed in the terms of the trust shall be paramount.

3  Effective Date.  This act shall take effect upon its passage.