reglab/housing_qa huggingface dataset:
NH Rev Stat § 31:19-a (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:19-a - Trust Funds Created by Towns.

    31:19-a Trust Funds Created by Towns. –||I. A town may at any annual or special meeting grant and vote such sums of money as it deems necessary to create trust funds for the maintenance and operation of the town; and any other public purpose that is not foreign to the town's institution or incompatible with the objects of its organization. The town may appoint agents to expend any funds in the trust for the purposes of the trust. An annual accounting and report of the activities of the trust shall be presented to the selectmen and published in the annual report.||II. Trust funds created pursuant to this section shall be revocable by majority vote of the legal voters present and voting at any annual meeting, unless the vote creating the trust expressly provides that the trust shall be irrevocable, and upon revocation the trustees of trust funds holding the account for said trust shall pay all the moneys in such fund to the town treasurer.||III. Notwithstanding any other provision of this chapter, any trust fund created under this section shall be subject to the same provisions concerning custody, investment, expenditure, change of purpose, and audit as are reserve funds established under RSA 34:1, 34:1-a, 35:1 or 35:1-c. The legal validity of such a fund properly established shall not be affected by its designation as a "trust," "reserve," "capital reserve," or any other designation.||IV. The local legislative body may authorize the acceptance of privately donated gifts, legacies, and devises to be utilized for the same purposes as a trust fund created under this section; provided, however, that such gifts, legacies, or devises shall be invested and accounted for separately from, and not commingled with, amounts appropriated under paragraph I, and shall be subject to the custody and investment provisions applicable to trust funds accepted under RSA 31:19.||V. A trust fund created under the provisions of this section that is established for the purpose of maintaining health insurance funds for the benefit of employees and retired employees of any town shall be exempt from the provisions of RSA 35:8 or 34:4, and, when so established, the town may name its own trustees who may expend any funds in the trust for the payment of health claims or health insurance premiums for the benefit of any employees or retired employees of the town. An annual accounting and report of the activities of the trust shall be presented to the selectmen and published in the annual report.|||Source. 1983, 264:2. 1991, 231:1. 1993, 176:1, 2. 1995, 20:2, 3, eff. June 11, 1995. 1998, 44:1, eff. July 4, 1998.|
NH Rev Stat § 31:19-b (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:19-b - Deferred Compensation Plan Trusts.

    31:19-b Deferred Compensation Plan Trusts. –||I. In this section, "eligible employer" means a governing body of a political subdivision, and any instrumentality whose income is exempt from federal taxation under section 115 of the Internal Revenue Code.||II. All eligible employers are authorized to adopt resolutions establishing deferred compensation plans for their employees under section 457(b) of the Internal Revenue Code; and, further, establishing trusts, custodial accounts, or annuity contracts described in section 401(f) of the Internal Revenue Code to receive all assets and income of deferred compensation plans for the exclusive benefit of employee and retiree participants and their beneficiaries as required by section 457(g) of the Internal Revenue Code.||III. Notwithstanding any other provision of the law to the contrary, all Internal Revenue Code section 457(b) deferred compensation plans adopted and all Internal Revenue Code section 457(g) trusts, accounts, or contracts created by any eligible employer after August 20, 1996, which meet the requirements of this section, are hereby deemed to be qualifying deferred compensation plans under this section.||IV. The eligible employer which establishes a deferred compensation plan trust under section 457(g) of the Internal Revenue Code is hereby authorized to serve as a trustee of such trust and is further authorized to appoint an administrator to administer the deferred compensation plan trust and receive all plan assets and income for such purposes. An administrator may be within or outside the state so long as it administers a deferred compensation plan trust which qualifies as an Internal Revenue Code section 457(b) deferred compensation plan and an Internal Revenue Code section 457(g) trust account or contract. Any appointments made after August 20, 1996 of administrators and investments of plan assets in trusts created by those administrators that meet the requirements of this section are hereby ratified.||V. All amounts deferred under an Internal Revenue Code section 457(b) plan, after a trust has been established, shall be transferred to the trust within a period that is not longer than is reasonably necessary for the proper administration of the accounts of participants. All assets and income held in any deferred compensation plan trust established under this section shall be held, managed, and invested for the exclusive benefit of employee and retiree participants and their beneficiaries and shall not be diverted to any other purpose including any debt or obligation of the eligible employer under state or federal law.|||Source. 1998, 371:1, eff. June 26, 1998.|
NH Rev Stat § 31:20 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:20 - For Cemeteries.

    31:20 For Cemeteries. –||Towns shall take and hold in trust gifts, legacies and devises made to them for the care of cemeteries and burial lots when the terms of the gift, legacy or devise do not impose any liability upon the town beyond the amount of the gift, legacy or devise and the income thereof.|||Source. GL 49:7; 50:3. PS 40:5. 1901, 83:1. 1907, 70:1. PL 42:19. RL 51:20.|
NH Rev Stat § 31:21 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:21 - Funds of Cemetery Associations, Etc.

    31:21 Funds of Cemetery Associations, Etc. –||Towns may receive from cemetery associations or individuals funds for the care of cemeteries or any lot therein, and the income thereof shall be expended by the town in accordance with the terms of the trust or contract under which the funds were received.|||Source. GL 49:7; 50:3. PS 40:5. 1901, 83:1. 1907, 70:1. PL 42:20. RL 51:21.|
NH Rev Stat § 31:22 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:22 - Trustees.

    31:22 Trustees. –||All such trusts shall be administered by a board of 3 trustees, unless a town at an annual or special town meeting votes that such trusts shall be administered by a board of 5 trustees. In towns with a board of 3 trustees, one trustee shall be elected by a ballot at each annual town meeting for a term of 3 years. In towns with a board of 5 trustees the 2 additional trustees shall be appointed initially by the selectmen, one for one year and one for 2 years. Thereafter all trustees shall be elected by ballot at the annual town meeting to replace those whose terms expire. The term of each trustee shall be 3 years. Vacancies shall be filled by the selectmen for the remainder of the term. The board may recommend to the appointing authority the names of no more than 2 persons who may serve as alternate members on the board. The alternate members shall be appointed to one-year terms. In cities said trustees shall be chosen and hold their office for such term as shall be provided for by city ordinance. Trustees shall organize by electing one of their number bookkeeper, who shall keep the records and books for the trustees, and shall require a voucher before making any disbursement of funds from said trusts.|||Source. 1915, 162:2. PL 42:21. RL 51:22. 1943, 70:1. 1945, 68:1. 1953, 21:1. RSA 31:22. 1979, 141:1, eff. June 5, 1979. 2014, 70:1, eff. July 26, 2014.|
NH Rev Stat § 31:22-a (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:22-a - Cy Pres, Cemetery Trust Funds.

    31:22-a Cy Pres, Cemetery Trust Funds. –||Upon petition of a majority of the board of trustees and upon a finding that it is in the public interest, the superior court or the probate court may direct the application of only accumulated excess trust income for the general care, capital improvements to or expansion of the cemetery relative to which the particular trust applies. The court shall determine from the terms of the particular trust whether the excess income accumulation of the particular burial lot trust fund will not be required for the care of the burial lot in the foreseeable future. In determining this requirement the court shall consider:||I. The financial status of the trust account.||II. A projection of future interest rates.||III. A projection of future labor costs necessary to maintain the lot.|||Source. 1977, 128:2. 1992, 284:1, eff. Jan. 1, 1993.|
NH Rev Stat § 31:23 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:23 - Single Trustee.

    31:23 Single Trustee. –||A town wherein the total book value of trust funds is less than $15,000, acting under an appropriate article in the warrant for any annual town meeting, may vote that the board shall consist of one trustee only, in which case said trustee shall be chosen by ballot at the same and each succeeding annual town meeting; and such vote may be rescinded in like manner. All the duties and obligations imposed by law upon a board of trustees shall devolve upon the trustee so chosen; vacancies shall be filled by the selectmen for the remainder of the year; and said trustee shall receive from the town treasury such compensation as the town meeting may determine.|||Source. 1945, 85:1. RSA 31:23. 1983, 264:1, eff. Aug. 17, 1983.|
NH Rev Stat § 31:24 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:24 - Trustees; Expenses.

    31:24 Trustees;  Expenses. –||The expenses of trustees or the trustee provided for in RSA 31:23 shall be charged as incidental town charges.|||Source. 1915, 162:5. PL 42:27. 1941, 43:3. RL 51:29. 1945, 85:3. RSA 31:24. 1973, 544:8. 1979, 376:17, eff. Aug. 22, 1979.|
NH Rev Stat § 31:25-a (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:25-a - Retention of Nonlegal Securities.

    31:25-a Retention of Nonlegal Securities. –||Any security which at the time of its purchase under RSA 31:25 constituted a legal investment for any bank chartered by this state to engage in a banking business or for trustees of trust funds under the laws and conditions then existing may be retained notwithstanding the fact that, because of changes in the law relating to legal investments or because of conditions arising subsequent to the purchase of such security, its purchase might not then be legal; provided, however, that no such security that is not a prudent investment under the circumstances existing at the time of its retention and thereafter may be retained by the trustees; and provided further, that the aggregate total of the market value of all securities retained under this section shall not exceed 20 percent of the total market value of all the investments held by the trustees.|||Source. 1983, 118:1, eff. May 25, 1983. 1997, 181:2, eff. Aug. 16, 1997. 2001, 54:2, eff. Jan. 1, 2002. 2021, 65:8, eff. Aug. 3, 2021.|
NH Rev Stat § 31:25-b (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:25-b - Prudent Investment Defined.

    31:25-b Prudent Investment Defined. –||For purposes of RSA 31:25-a, a prudent investment is one which a prudent man would purchase for his own investment having primarily in view the preservation of the principal and the amount and regularity of the income to be derived therefrom.|||Source. 1983, 118:1, eff. May 25, 1983.|
NH Rev Stat § 31:25-c (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:25-c - Report to the Attorney General.

    31:25-c Report to the Attorney General. –||The trustees shall report annually to the attorney general any securities retained under the provisions of RSA 31:25-a, which shall appear as an addendum to the annual report required to be filed under RSA 31:38.|||Source. 1983, 118:1, eff. May 25, 1983.|
NH Rev Stat § 31:25-d (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:25-d - Application of Prudent Investor Rule.

    31:25-d Application of Prudent Investor Rule. –|| The trustees of trust funds may manage and invest such funds in accordance with the prudent investor rule under RSA 564-B:9-901-RSA 564-B:9-906 without regard to the investment limitations of RSA 31:25 and RSA 31:25-a, provided, however, the trustees of trust funds:||I. Notify the attorney general in writing of their decision to invest according to the prudent investor rule; and||II. Hire or employ the trust department of a bank or a brokerage firm to provide investment advice and assistance under RSA 31:38-a, III.|||Source. 2008, 264:1, eff. Aug. 25, 2008.|
NH Rev Stat § 31:26 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:26 - Investments by Single Trustee.

    31:26 Investments by Single Trustee. –||In towns which have chosen a single trustee of trust funds such funds shall be invested only by deposit in any federally insured bank authorized to accept deposits under RSA 6:8, I and I-a, or in state, county, town, city, school district, water and sewer district bonds and the notes of towns or cities in this state and when so invested the trustee shall not be liable for the loss thereof; and in any common trust fund established by the New Hampshire Charitable Foundation in accordance with RSA 292:23; or in obligations fully guaranteed as to principal and interest by the United States government. The obligations may be held directly or in the form of securities of or other interests in any open-end or closed-end management-type investment company or investment trust registered under 15 U.S.C. section 80a-1 et seq., if the portfolio of the investment company or investment trust is limited to such obligations and repurchase agreements fully collateralized by such obligations. Deposits in a federally insured bank shall be made in the name of the town which holds the same as a trust, and it shall appear upon the books thereof as a trust fund. Any person who directly or indirectly receives any such trust funds for deposit or for investment in securities of any kind shall, prior to acceptance of such funds, make available at the time of such deposit or investment an option to have such funds secured by collateral having value at least equal to the amount of such funds. Such collateral shall be segregated for the exclusive benefit of the town depositing or investing such funds. Only securities defined by the bank commissioner as provided by rules adopted pursuant to RSA 383-B:3-301(e) shall be eligible to be pledged as collateral. The trustee may retain investments as received from donors until the maturity thereof.|||Source. 1945, 85:2. RSA 31:26. 1969, 447:2. 1992, 24:2, III, eff. April 3, 1992. 2001, 54:3, eff. Jan. 1, 2002. 2007, 347:2, eff. Sept. 14, 2007. 2015, 272:40, eff. Oct. 1, 2015. 2021, 65:9, eff. Aug. 3, 2021.|
NH Rev Stat § 31:27 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:27 - Collective Investments.

    31:27 Collective Investments. –||Notwithstanding any statute or rule of law to the contrary, town and city trustees of trust funds may establish, maintain and operate one or more common trust funds, in which may be combined money and property belonging to the various trusts in their care, for the purpose of facilitating investments, providing diversification and obtaining reasonable income; provided however, that said common trust funds shall be limited to the investments authorized in RSA 31:25; provided further, that not more than $10,000, or more than 10 percent of the fund whichever is greater, of any town or city common trust funds shall be invested under RSA 31:25 in the obligations of any one corporation or organization, excepting deposits in any federally insured bank authorized to accept deposits under RSA 6:8, I and I-a, in credit unions in this state, or in obligations of the United States and of the state of New Hampshire and its subdivisions; or in participation units in the public deposit investment pool established pursuant to RSA 383:22, or in shares of open ended mutual funds selected by the trustees for investment under RSA 31:25, and provided further, that the participating contributory interests of said trusts are properly evidenced by appropriate bookkeeping entries showing on an annual basis the capital contribution of and the profits and income allocable to each trust.|||Source. 1951, 227:1, par. 31-a. RSA 31:27. 1959, 253:1. 1969, 447:3. 1992, 24:2, IV, eff. April 3, 1992. 1997, 181:3, eff. Aug. 16, 1997. 2001, 54:4, eff. Jan. 1, 2002. 2021, 65:10, eff. Aug. 3, 2021.|
NH Rev Stat § 31:28 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:28 - Exception.

    31:28 Exception. –||The provisions of RSA 31:27 shall not apply where the instrument creating the particular trust specifically prohibits collective investments or where such investment shall violate any specific court order made in any particular trust.|||Source. 1951, 227:1, par. 31-c, eff. Aug. 29, 1951.|
NH Rev Stat § 31:29 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:29 - Contributions and Withdrawals.

    31:29 Contributions and Withdrawals. –||Contribution to any common trust fund shall be made on the basis of its market value at the time such contribution is recorded in the books of the trustees. The withdrawal of a particular trust fund from any common trust fund shall be made proportionately on the basis of the market value of said common trust fund at the time such withdrawal is recorded in the books of the trustees.|||Source. 1951, 227:1, par. 31-b, eff. Aug. 29, 1951.|
NH Rev Stat § 31:30 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:30 - Liberal Construction of Provisions.

    31:30 Liberal Construction of Provisions. –||The provisions of RSA 31:25, 31:27-29, and 31:28 shall be construed liberally to effectuate the purposes stated in RSA 31:27.|||Source. 1951, 227:1, par. 31-e, eff. Aug. 29, 1951.|
NH Rev Stat § 31:31 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:31 - Trust Funds for Districts.

    31:31 Trust Funds for Districts. –||Except where otherwise specifically provided in the charter of a city or by special act of the legislature whenever a gift, legacy or devise shall be made in trust to a school district, village district or any subdivision of a town and accepted by it, the same shall be held in custody and administered by the trustees of trust funds of such town or in case of districts embracing 2 or more towns by the trustees of trust funds of that town which the voters of said district may elect. The governing body of any such district or subdivision shall expend such district or subdivision trust funds, or the income thereof to be expended, consistently with the terms of the trust. The provisions of RSA 31:32 shall not apply to expenditures of district or subdivision trust funds.|||Source. 1941, 43:2. RL 51:24.|
NH Rev Stat § 31:32 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:32 - Expenditures.

    31:32 Expenditures. –||Trust funds, or the income thereof, to be expended, shall be paid to trustees or agents of the town established to carry out the objects designated by such trusts, and, if there be no such trustees or agents, then such expenditures shall be made by the full board of town trustees.|||Source. 1915, 162:3. 1919, 96:1. PL 42:23. RL 51:25.|
NH Rev Stat § 31:33 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:33 - Audit and Publication of Reports of Trustees.

    31:33 Audit and Publication of Reports of Trustees. –||I. The accounts of the trustees shall be audited annually by the auditor of the town, the securities shall be exhibited to the auditor, and he shall certify the facts found by his audit and the list of all securities held. The trustees shall submit to the auditor a detailed statement of the securities held by them and the particular trust to which they belong, and exhibit to him a statement of all receipts and expenditures with proper vouchers.||II. The legislative body of a town may authorize the printing of the reports of the trustees and of the auditor in summary form rather than in full detail in the annual town report.||III. In a year in which a town accepts gifts, legacies and devises for any trust created, the trustees and auditor shall print the names of the donors and the value of such gifts, legacies and devises at the time of donation in the annual town report.|||Source. 1915, 162:3. PL 42:24. RL 51:26. RSA 31:33. 1975, 78:1. 1977, 45:1, eff. June 11, 1977.|
NH Rev Stat § 31:34 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:34 - Records.

    31:34 Records. –||The trustees shall keep a record of all trusts in a record book or maintained in electronic format, which shall be open to the inspection of all persons in their town.|||Source. 1915, 162:3. PL 42:25. RL 51:27. 2014, 32:1, eff. July 26, 2014.|
NH Rev Stat § 31:35 (2021)
2021 New Hampshire Revised Statutes|Title III - Towns, Cities, Village Districts, and Unincorporated Places|Title 31 - Powers and Duties of Towns|Section 31:35 - Compensation of Bookkeeper.

    31:35 Compensation of Bookkeeper. –||The bookkeeper of the trustees shall receive such compensation as the town meeting may determine.|||Source. 1915, 162:4. PL 42:26. RL 51:28. 1948, 70:2. 1953, 21:2. RSA 31:35. 1983, 264:3, eff. Aug. 17, 1983.|