reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:4-412 - Timber.

564-C:4-412 Timber. –
(a) To the extent that a trustee accounts for receipts from the sale of timber and related products pursuant to this section, the trustee shall allocate the net receipts:
(1) to income to the extent that the amount of timber removed from the land does not exceed the rate of growth of the timber during the accounting periods in which a beneficiary has a mandatory income interest;
(2) to principal to the extent that the amount of timber removed from the land exceeds the rate of growth of the timber or the net receipts are from the sale of standing timber;
(3) to or between income and principal if the net receipts are from the lease of timberland or from a contract to cut timber from land owned by a trust, by determining the amount of timber removed from the land under the lease or contract and applying the rules in subsections (a)(1) and (2); or
(4) to principal to the extent that advance payments, bonuses, and other payments are not allocated pursuant to subsections (a)(1), (2), or (3).
(b) In determining net receipts to be allocated pursuant to subsection (a), a trustee shall deduct and transfer to principal a reasonable amount for depletion.
(c) This chapter applies whether or not a decedent or transferor was harvesting timber from the property before it became subject to the trust.
(d) If a trust owns an interest in timber land on the effective date of this chapter, the trustee may allocate net receipts from the sale of timber and related products as provided in this chapter or in the manner used by the trustee before the effective date of this chapter. If the trust acquires an interest in timber land after the effective date of this chapter, the trustee shall allocate net receipts from the sale of timber and related products as provided in this chapter.
Source.
2006, 320:68, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:4-413 - Property Not Productive of Income.

564-C:4-413 Property Not Productive of Income. –
(a) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under RSA 564-C:1-104 and distributes to the spouse from principal pursuant to the terms of the trust are insufficient to provide the spouse with the beneficial enjoyment required to obtain the marital deduction, the spouse may require the trustee within a reasonable time from being notified by the spouse to make property productive of income, convert property within a reasonable time or exercise the power conferred by RSA 564-C:1-104(a). The trustee may decide which action or combination of actions set forth above to take without regard to the specific action or actions requested by the spouse, if any.
(b) In cases not governed by subsection (a), proceeds from the sale or other disposition of an asset are principal without regard to the amount of income the asset produces during any accounting period.
Source.
2006, 320:68, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:4-414 - Derivatives and Options.

564-C:4-414 Derivatives and Options. –
(a) In this section, "derivative" means a contract or financial instrument or a combination of contracts and financial instruments which gives a trust the right or obligation to participate in some or all changes in the price of a tangible or intangible asset or group of assets, or changes in a rate, an index of prices or rates, or other market indicator for an asset or a group of assets.
(b) To the extent that a trustee does not account under RSA 564-C:4-403 for transactions in derivatives, the trustee shall allocate to principal receipts from and disbursements made in connection with those transactions.
(c) If a trustee grants an option to buy property from the trust, whether or not the trust owns the property when the option is granted, grants an option that permits another person to sell property to the trust, or acquires an option to buy property for the trust or an option to sell an asset owned by the trust, and the trustee or other owner of the asset is required to deliver the asset if the option is exercised, an amount received for granting the option must be allocated to principal. An amount paid to acquire the option must be paid from principal. A gain or loss realized upon the exercise of an option, including an option granted to a settlor of the trust for services rendered, must be allocated to principal.
Source.
2006, 320:68, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:4-415 - Asset-Backed Securities.

564-C:4-415 Asset-Backed Securities. –
(a) In this section, "asset-backed security" means an asset whose value is based upon the right it gives the owner to receive distributions from the proceeds of financial assets that provide collateral for the security. The term includes an asset that gives the owner the right to receive from the collateral financial assets only the interest or other current return or only the proceeds other than interest or current return. The term does not include an asset to which RSA 564-C:4-401 or RSA 564 C: 4-409 applies.
(b) If a trust receives a payment from interest or other current return and from other proceeds of the collateral financial assets, the trustee shall allocate to income the portion of the payment which the payer identifies as being from interest or other current return and shall allocate the balance of the payment to principal.
(c) If a trust receives one or more payments in exchange for the trust's entire interest in an asset-backed security in one accounting period, the trustee shall allocate the payments to principal. If a payment is one of a series of payments that will result in the liquidation of the trust's interest in the security over more than one accounting period, the trustee shall allocate 10 percent of the payment to income and the balance to principal.
Source.
2006, 320:68, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:5-501 - Disbursements from Income.

564-C:5-501 Disbursements from Income. –
A trustee shall make the following disbursements from income to the extent that they are not disbursements to which RSA 564-C:2-201(2)(B) or (C) applies:
(a) Except as otherwise ordered by a court, so much of the compensation of the trustee and of any person providing investment advisory or custodial services to the trustee, and so much of the expenses for accounting, judicial proceedings, or other matters that involve the income and remainder interests as shall be determined by the trustee.
(b) All of the other ordinary expenses incurred in connection with the administration, management, or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal, and expenses of a proceeding or other matter that concerns primarily the income interest; and
(c) Recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.
Source.
2006, 320:68, eff. Aug. 19, 2006. 2008, 374:22, eff. Sept. 9, 2008.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:5-502 - Disbursements from Principal.

564-C:5-502 Disbursements from Principal. –
(a) A trustee shall make the following disbursements from principal:
(1) Such of the disbursements described in paragraph (a) of RSA 564-C:5-501 as are not charged to income;
(2) all of the trustee's compensation calculated on principal as a fee for acceptance, distribution, or termination, and disbursements made to prepare property for sale;
(3) payments on the principal of a trust debt;
(4) expenses of a proceeding that concerns primarily principal, including a proceeding to construe the trust or to protect the trust or its property;
(5) premiums paid on a policy of insurance not described in RSA 564-C:5-501(4) of which the trust is the owner and beneficiary;
(6) estate, inheritance, and other transfer taxes, including penalties, apportioned to the trust; and
(7) disbursements related to environmental matters, including reclamation, assessing environmental conditions, remedying and removing environmental contamination, monitoring remedial activities and the release of substances, preventing future releases of substances, collecting amounts from persons liable or potentially liable for the costs of those activities, penalties imposed under environmental laws or regulations and other payments made to comply with those laws or regulations, statutory or common law claims by third parties, and defending claims based on environmental matters.
(b) If a principal asset is encumbered with an obligation that requires income from that asset to be paid directly to the creditor, the trustee shall transfer from principal to income an amount equal to the income paid to the creditor in reduction of the principal balance of the obligation.
Source.
2006, 320:68, eff. Aug. 19, 2006. 2008, 374:23, eff. Sept. 9, 2008.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:5-503 - Transfers from Income to Principal for Depreciation.

564-C:5-503 Transfers from Income to Principal for Depreciation. –
(a) In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than one year.
(b) A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation:
(1) of that portion of real property used or available for use by a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary;
(2) during the administration of a decedent's estate; or
(3) under this section if the trustee is accounting under RSA 564-C:4-403 for the business or activity in which the asset is used.
(c) An amount transferred to principal need not be held as a separate fund.
Source.
2006, 320:68, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:5-504 - Transfers from Income to Reimburse Principal.

564-C:5-504 Transfers from Income to Reimburse Principal. –
(a) If a trustee makes or expects to make a principal disbursement described in this section, the trustee may transfer an appropriate amount from income to principal in one or more accounting periods to reimburse principal or to provide a reserve for future principal disbursements.
(b) Principal disbursements to which subsection (a) applies include the following, but only to the extent that the trustee has not been and does not expect to be reimbursed by a third party:
(1) an amount chargeable to income but paid from principal because it is unusually large, including extraordinary repairs;
(2) a capital improvement to a principal asset, whether in the form of changes to an existing asset or the construction of a new asset, including special assessments;
(3) disbursements made to prepare property for rental, including tenant allowances, leasehold improvements, and broker's commissions;
(4) periodic payments on an obligation secured by a principal asset to the extent that the amount transferred from income to principal for depreciation is less than the periodic payments; and
(5) disbursements described in RSA 564-C:5-502(a)(7).
(c) If the asset whose ownership gives rise to the disbursements becomes subject to a successive income interest after an income interest ends, a trustee may continue to transfer amounts from income to principal as provided in subsection (a).
Source.
2006, 320:68, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:5-505 - Income Taxes.

564-C:5-505 Income Taxes. –
(a) A tax required to be paid by a trustee based on receipts allocated to income must be paid from income.
(b) A tax required to be paid by a trustee based on receipts allocated to principal must be paid from principal, even if the tax is called an income tax by the taxing authority.
(c) A tax required to be paid by a trustee on the trust's share of an entity's taxable income must be paid proportionately:
(1) from income to the extent that receipts from the entity are allocated to income; and
(2) from principal to the extent that:
(A) receipts from the entity are allocated to principal; and
(B) the trust's share of the entity's taxable income exceeds the total receipts described in subsections (c)(1) and (2)(A).
(d) For purposes of this section, receipts allocated to principal or income must be reduced by the amount distributed to a beneficiary from principal or income for which the trust receives a deduction in calculating the tax.
Source.
2006, 320:68, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:5-506 - Adjustments Between Principal and Income Because of Taxes.

564-C:5-506 Adjustments Between Principal and Income Because of Taxes. –
(a) A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from:
(1) elections and decisions, other than those described in subsection (b), that the fiduciary makes from time to time regarding tax matters;
(2) an income tax or any other tax that is imposed upon the fiduciary or a beneficiary as a result of a transaction involving or a distribution from the estate or trust; or
(3) the ownership by an estate or trust of an interest in an entity whose taxable income, whether or not distributed, is includable in the taxable income of the estate, trust, or a beneficiary.
(b) If the amount of an estate tax marital deduction or charitable contribution deduction is reduced because a fiduciary deducts an amount paid from principal for income tax purposes instead of deducting it for estate tax purposes, and as a result estate taxes paid from principal are increased and income taxes paid by an estate, trust, or beneficiary are decreased, each estate, trust, or beneficiary that benefits from the decrease in income tax shall reimburse the principal from which the increase in estate tax is paid. The total reimbursement must equal the increase in the estate tax to the extent that the principal used to pay the increase would have qualified for a marital deduction or charitable contribution deduction but for the payment. The proportionate share of the reimbursement for each estate, trust, or beneficiary whose income taxes are reduced must be the same as its proportionate share of the total decrease in income tax. An estate or trust shall reimburse principal from income.
Source.
2006, 320:68, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:6-601 - Severability Clause.

564-C:6-601 Severability Clause. –
If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.
Source.
2006, 320:68, eff. Aug. 19, 2006.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-C - Uniform Principal and Income Act › Section 564-C:6-602 - Application of Chapter to Trusts and Estates.

564-C:6-602 Application of Chapter to Trusts and Estates. –
(a) The effective date of this chapter shall be January 1, 2007.
(b) Except as otherwise provided in this chapter, on the effective date of this chapter, the chapter shall apply:
(1) to every inter vivos trust created on or after the effective date of this chapter except as otherwise expressly provided in the terms of the trust or in this chapter;
(2) to any inter vivos trust created before the effective date of this chapter upon the election of the trustee to apply this chapter made in writing and delivered to the beneficiaries then entitled to receive income and principal from the trust;
(3) to any estate or testamentary trust of a decedent who dies on or after the effective date of this chapter; and
(4) to any other estate or testamentary trust upon the approval by a court of competent jurisdiction, upon either (A) a petition filed by an interested person or (B) the court on its own motion.
(c) Nothing in this section imposes a duty on the trustee or any other fiduciary to make an election under this section, and the trustee or any other fiduciary is not liable for failing to make an election under this section.
(d) Nothing in this chapter shall be construed to affect or change the form of accounting required under the rules of the probate court.
Source.
2006, 320:68, eff. Aug. 19, 2006. 2008, 374:24, eff. Sept. 9, 2008.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:101 - Short Title.

564-E:101 Short Title. –
This chapter may be cited as the Uniform Power of Attorney Act.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:103 - Applicability.

564-E:103 Applicability. –
This chapter applies to all powers of attorney except:
(1) a power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a creditor in connection with a credit transaction;
(2) a power to make health-care decisions;
(3) a proxy or other delegation to exercise voting rights or management rights with respect to an entity; and
(4) a power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:104 - Power of Attorney is Durable.

564-E:104 Power of Attorney is Durable. –
A power of attorney created under this chapter is durable unless it expressly provides that it is terminated by the incapacity of the principal.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:105 - Execution of Power of Attorney.

564-E:105 Execution of Power of Attorney. –
(a) With regard to a general power of attorney:
(1) The power of attorney must be signed (other than by electronic signature) by the principal or in the principal's conscious presence by another individual directed by the principal to sign the principal's name on the power of attorney and must be acknowledged before a notary public or other individual authorized by law to take acknowledgments.
(2) A disclosure statement in substantially the following form, signed (other than by electronic signature) by the principal or by another individual directed by the principal to sign the principal's name, must be affixed to the power of attorney:
INFORMATION CONCERNING THE POWER OF ATTORNEY
THIS IS AN IMPORTANT LEGAL DOCUMENT. BEFORE SIGNING THIS DOCUMENT YOU SHOULD KNOW THESE IMPORTANT FACTS:
Notice to the Principal: As the "Principal," you are using this Power of Attorney to grant power to another person (called the "Agent") to make decisions, including, but not limited to, decisions concerning your money, property, or both, and to use your money, property, or both on your behalf. If this Power of Attorney does not limit the powers that you give to your Agent, your Agent will have broad and sweeping powers to sell or otherwise dispose of your property, and to spend your money without advance notice to you or approval by you. Unless you have expressly provided otherwise in this Power of Attorney, your Agent will have these powers before you become incapacitated, and unless you have expressly provided otherwise in this Power of Attorney, your Agent will continue to have these powers after you become incapacitated. You have the right to retain this Power of Attorney and to release it later or to request that another person retain this Power of Attorney on your behalf and release it only if one or more conditions specified in advance by you are satisfied. You have the right to revoke or take back this Power of Attorney at any time, so long as you are of sound mind. If there is anything about this Power of Attorney that you do not understand, you should seek professional advice.
(b) A power of attorney to convey real estate must be signed (other than by electronic signature) by the principal or in the principal's conscious presence by another individual directed by the principal to sign the principal's name on the general power of attorney and must be acknowledged before a notary public or other individual authorized by law to take acknowledgments.
(c) Any other power of attorney must be signed by the principal or in the principal's conscious presence by another individual directed by the principal to sign the principal's name on the power of attorney.
(d) A signature on a power of attorney is presumed to be genuine if the principal acknowledges the signature before a notary public or other individual authorized by law to take acknowledgments.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:106 - Validity of Power of Attorney.

564-E:106 Validity of Power of Attorney. –
(a) A power of attorney executed in this state on or after the effective date of this chapter is valid if its execution complies with RSA 564-E:105.
(b) A power of attorney executed in this state before the effective date of this chapter is valid if its execution complied with the law of this state as it existed at the time of execution.
(c) A power of attorney executed other than in this state is valid in this state if, when the power of attorney was executed, the execution complied with:
(1) the law of the jurisdiction that determines the meaning and effect of the power of attorney pursuant to RSA 564-E:107; or
(2) the requirements for a military power of attorney pursuant to 10 U.S.C. section 1044b, as amended.
(d) Except as otherwise provided in the power of attorney or by statute other than this chapter, a photocopy or electronically transmitted copy of an original power of attorney has the same effect as the original.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:107 - Meaning and Effect of Power of Attorney.

564-E:107 Meaning and Effect of Power of Attorney. –
The meaning and effect of a power of attorney is determined by the law of the jurisdiction indicated in the power of attorney and, in the absence of an indication of jurisdiction, by the law of the jurisdiction in which the power of attorney was executed.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:108 - Nomination of Guardian; Relation of Agent to Court-Appointed Fiduciary.

564-E:108 Nomination of Guardian;  Relation of Agent to Court-Appointed Fiduciary. –
(a) In a power of attorney, a principal may nominate a guardian of the principal's estate or guardian of the principal's person for consideration by the court if protective proceedings for the principal's estate or person are begun after the principal executes the power of attorney. Except for good cause shown or disqualification, the court shall make its appointment in accordance with the principal's most recent nomination.
(b) If, after a principal executes a power of attorney, a court appoints a conservator or guardian of the principal's estate or other fiduciary charged with the management of some or all of the principal's property:
(1) the agent is accountable to the fiduciary as well as to the principal;
(2) the power of attorney is not terminated and the agent's authority continues unless limited, suspended, or terminated by the court; and
(3) The fiduciary shall have the same power as the principal to revoke, suspend, or terminate all or any part of such power of attorney.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:109 - When Power of Attorney Effective.

564-E:109 When Power of Attorney Effective. –
(a) A power of attorney is effective when executed unless the principal provides in the power of attorney that it becomes effective at a future date or upon the occurrence of a future event or contingency.
(b) If a power of attorney becomes effective upon the occurrence of a future event or contingency, the principal, in the power of attorney, may authorize one or more persons to determine in a writing or other record that the event or contingency has occurred.
(c) If a power of attorney becomes effective upon the principal's incapacity and the principal has not authorized a person to determine whether the principal is incapacitated, or the person authorized is unable or unwilling to make the determination, the power of attorney becomes effective upon a determination in a writing or other record by:
(1) a physician that the principal is incapacitated within the meaning of RSA 564-E:102(12)(A); or
(2) a judge, or an appropriate governmental official that the principal is incapacitated within the meaning of RSA 564-E:102(12)(B).
(d) A person authorized by the principal in the power of attorney to determine that the principal is incapacitated may act as the principal's personal representative pursuant to the Health Insurance Portability and Accountability Act, sections 1171 through 1179 of the Social Security Act, 42 U.S.C. section 1320d, as amended, and applicable regulations, to obtain access to the principal's health-care information and communicate with the principal's health-care provider.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:110 - Termination of Power of Attorney or Agent's Authority.

564-E:110 Termination of Power of Attorney or Agent's Authority. –
(a) A power of attorney terminates when:
(1) the principal dies;
(2) the principal becomes incapacitated, if the power of attorney is not durable;
(3) the principal revokes the power of attorney;
(4) the power of attorney provides that it terminates;
(5) the purpose of the power of attorney is accomplished; or
(6) the principal revokes the agent's authority or the agent dies, becomes incapacitated, or resigns, and the power of attorney does not provide for another agent to act under the power of attorney.
(b) An agent's authority terminates when:
(1) the principal revokes the authority;
(2) the agent dies, becomes incapacitated, or resigns;
(3) a petition for divorce, annulment, separation or a decree of nullity is filed with respect to the agent's marriage to the principal, unless the power of attorney otherwise provides; or
(4) the power of attorney terminates.
(c) Unless the power of attorney otherwise provides, an agent's authority is exercisable until the authority terminates under subsection (b), notwithstanding a lapse of time since the execution of the power of attorney.
(d) Termination of an agent's authority or of a power of attorney is not effective as to the agent or another person that, without actual knowledge of the termination, acts in good faith under the power of attorney. An act so performed, unless otherwise invalid or unenforceable, binds the principal and the principal's successors in interest.
(e) Incapacity of the principal of a power of attorney that is not durable does not revoke or terminate the power of attorney as to an agent or other person that, without actual knowledge of the incapacity, acts in good faith under the power of attorney. An act so performed, unless otherwise invalid or unenforceable, binds the principal and the principal's successors in interest.
(f) The execution of a power of attorney does not revoke a power of attorney previously executed by the principal unless the subsequent power of attorney provides that the previous power of attorney is revoked or that all other powers of attorney are revoked.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:111 - Coagents and Successor Agents.

564-E:111 Coagents and Successor Agents. –
(a) A principal may designate 2 or more persons to act as coagents. Unless the power of attorney otherwise provides, the coagents must exercise their authority jointly.
(b) A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve, or declines to serve. A principal may grant authority to designate one or more successor agents to an agent or other person designated by name, office, or function. Unless the power of attorney otherwise provides, a successor agent:
(1) has the same authority as that granted to the original agent; and
(2) may not act until all predecessor agents have resigned, died, become incapacitated, are no longer qualified to serve, or have declined to serve.
(c) Except as otherwise provided in the power of attorney and subsection (d), an agent that does not participate in or conceal a breach of fiduciary duty committed by another agent, including a predecessor agent, is not liable for the actions of the other agent.
(d) A coagent that has actual knowledge of a breach or imminent breach of fiduciary duty by another coagent shall notify the principal and, if the principal is incapacitated, take any action reasonably appropriate in the circumstances to safeguard the principal's best interest. A coagent that fails to notify the principal or take action as required by this subsection is liable for the reasonably foreseeable damages that could have been avoided if the coagent had notified the principal or taken such action.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:112 - Reimbursement and Compensation of Agent.

564-E:112 Reimbursement and Compensation of Agent. –
Unless the power of attorney otherwise provides, an agent is entitled to reimbursement of expenses reasonably incurred on behalf of the principal and to compensation that is reasonable under the circumstances.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:113 - Agent's Authority and Agent's Acceptance or Declination.

564-E:113 Agent's Authority and Agent's Acceptance or Declination. –
(a) A person designated as agent under a general power of attorney shall have no authority to act as agent unless, at any time prior to exercising the power granted under the general power of attorney and not necessarily at the time the general power of attorney is signed by the principal, the person has signed (other than by electronic signature) and affixed to the general power of attorney an acknowledgment in substantially the following form:
I, ______________________________ , have read the attached power of attorney and am the person identified as the agent for the principal. I hereby acknowledge that when I act as agent, I am given power under the power of attorney to make decisions about money, property, or both belonging to the principal, and to spend the principal's money, property, or both on the principal's behalf, in accordance with the terms of the power of attorney. When acting as agent, I have duties (called "fiduciary duties") to act in accordance with the principal's reasonable expectations to the extent actually known by me and, otherwise, in the principal's best interest, to act in good faith, and to act only within the scope of authority granted in the power of attorney, as well as other duties imposed by law to the extent not provided otherwise in the power of attorney. As an agent, I am not entitled to use the money or property for my own benefit or to make gifts to myself or others unless the power of attorney specifically gives me the authority to do so. As an agent, my authority under the power of attorney will end when the principal dies and I will not have authority to manage or dispose of any property or administer the estate of the principal. If I violate a fiduciary duty under the power of attorney, I may be liable for damages and may be subject to criminal prosecution. If there is anything about the power of attorney, or my duties under it, that I do not understand, I understand that I should seek professional advice.
(b) A person accepts appointment as an agent under a power of attorney by substantially complying with the method of acceptance provided in the terms of the power of attorney or, if the terms of the power of attorney do not provide a method or if the method provided is not expressly made exclusive, by exercising authority or performing duties as an agent or by any other assertion or conduct indicating acceptance. A person designated as agent under a power of attorney has no duties unless the person has accepted the appointment.
(c) A person that has not yet accepted appointment as an agent under a power of attorney may decline the appointment.
Source.
2017, 178:1, eff. Jan. 1, 2018. 2021, 206:2, Pt. VI, Sec. 4, eff. July 1, 2021.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:114 - Agent's Duties.

564-E:114 Agent's Duties. –
(a) Notwithstanding provisions in the power of attorney, an agent that has accepted appointment shall:
(1) act in accordance with the principal's reasonable expectations to the extent actually known by the agent and, otherwise, in the principal's best interest;
(2) act in good faith; and
(3) act only within the scope of authority granted in the power of attorney.
(b) Except as otherwise provided in the power of attorney, an agent that has accepted appointment shall:
(1) act loyally for the principal's benefit;
(2) act so as not to create a conflict of interest that impairs the agent's ability to act impartially in the principal's best interest;
(3) act with the care, competence, and diligence ordinarily exercised by agents in similar circumstances;
(4) keep a record of all receipts, disbursements, and transactions made on behalf of the principal; and
(5) cooperate with a person that has authority to make health-care decisions for the principal to carry out the principal's reasonable expectations to the extent actually known by the agent and, otherwise, act in the principal's best interest.
(c) An agent that acts in good faith is not liable to any beneficiary of the principal's estate plan.
(d) An agent that acts with care, competence, and diligence for the best interest of the principal is not liable solely because the agent also benefits from the act or has an individual or conflicting interest in relation to the property or affairs of the principal.
(e) If an agent is selected by the principal because of special skills or expertise possessed by the agent or in reliance on the agent's representation that the agent has special skills or expertise, the special skills or expertise must be considered in determining whether the agent has acted with care, competence, and diligence under the circumstances.
(f) Absent a breach of duty to the principal, an agent is not liable if the value of the principal's property declines.
(g) An agent that exercises authority to delegate to another person the authority granted by the principal or that engages another person on behalf of the principal is not liable for an act, error of judgment, or default of that person if the agent exercises care, competence, and diligence in selecting and monitoring the person.
(h) Except as otherwise provided in the power of attorney, if any of the persons designated in RSA 564-E:116(a) makes a written request of the agent to submit an accounting or to report his, her or its acts as agent, then the agent shall comply within 60 days after the request was made. If the agent has not submitted an accounting or report within the 60-day period, then the person making such a request may petition the court to compel the agent to comply. The 60-day period shall be shortened to 7 days if the decision at issue relates to a decision affecting health care. The time limit in this subsection may be shortened by court order for good cause.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:115 - Exoneration of Agent.

564-E:115 Exoneration of Agent. –
A provision in a power of attorney relieving an agent of liability for breach of duty is binding on the principal and the principal's successors in interest except to the extent the provision:
(1) relieves the agent of liability for breach of duty committed dishonestly, with an improper motive, or with reckless indifference to the purposes of the power of attorney or the best interest of the principal; or
(2) was inserted as a result of an abuse of a confidential or fiduciary relationship with the principal.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:117 - Agent's Liability.

564-E:117 Agent's Liability. –
An agent that violates this chapter may be held liable, and an agent that knowingly, willfully, or recklessly violates this chapter shall be liable, to the principal or the principal's successors in interest for the amount required to:
(1) restore the value of the principal's property to what it would have been had the violation not occurred; and
(2) reimburse the principal or the principal's successors in interest for the attorney's fees and costs paid on the agent's behalf.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:118 - Agent's Resignation; Notice.

564-E:118 Agent's Resignation;  Notice. –
An agent may resign by substantially complying with a method of resignation provided in the terms of the power of attorney or, if the terms of the power of attorney do not provide a method or the method provided in the terms is not expressly made exclusive or is not possible to achieve, by giving written notice to the principal and, if the principal is incapacitated:
(1) to the conservator or guardian, if one has been appointed for the principal, and a coagent or successor agent; or
(2) if there is no person described in subsection (1), to:
(A) a parent, spouse, or descendant of the principal;
(B) the principal's caregiver;
(C) another person reasonably believed by the agent to have sufficient interest in the principal's welfare; or
(D) a governmental agency having authority to protect the welfare of the principal.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:119 - Acceptance of and Reliance upon Acknowledged Power of Attorney.

564-E:119 Acceptance of and Reliance upon Acknowledged Power of Attorney. –
(a) For purposes of this section and RSA 564-E:120, "acknowledged" means purportedly verified before a notary public or other individual authorized to take acknowledgments.
(b) A person that in good faith accepts an acknowledged power of attorney without actual knowledge that the signature is not genuine may presume that the signature is genuine.
(c) A person that in good faith accepts an acknowledged power of attorney without actual knowledge that the power of attorney is void, invalid, or terminated, that the purported agent's authority is void, invalid, or terminated, or that the agent is exceeding or improperly exercising the agent's authority may rely upon the power of attorney as if the power of attorney were genuine, valid, and still in effect, the agent's authority were genuine, valid, and still in effect, and the agent had not exceeded and had properly exercised the authority.
(d) A person that is asked to accept an acknowledged power of attorney may request, and rely upon, without further investigation:
(1) an agent's certification under penalty of perjury of any factual matter concerning the principal, agent, or power of attorney;
(2) an English translation of the power of attorney if the power of attorney contains, in whole or in part, language other than English; and
(3) an opinion of counsel as to any matter of law concerning the power of attorney if the person making the request provides in a writing or other record the reason for the request.
(e) An English translation or an opinion of counsel requested under this section must be provided at the principal's expense unless the request is made more than 7 business days after the power of attorney is presented for acceptance.
(f) For purposes of this section and RSA 564-E:120, a person that conducts activities through employees is without actual knowledge of a fact relating to a power of attorney, a principal, or an agent if the employee conducting the transaction involving the power of attorney is without actual knowledge of the fact.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:120 - Liability for Refusal to Accept Acknowledged Power of Attorney.

564-E:120 Liability for Refusal to Accept Acknowledged Power of Attorney. –
(a) Except as otherwise provided in subsection (b):
(1) a person shall either accept an acknowledged power of attorney or request a certification, a translation, or an opinion of counsel under RSA 564-E:119(d) no later than 7 business days after presentation of the power of attorney for acceptance;
(2) if a person requests a certification, a translation, or an opinion of counsel under RSA 564-E:119(d), the person shall accept the power of attorney no later than 5 business days after receipt of the certification, translation, or opinion of counsel; and
(3) a person may not require an additional or different form of power of attorney for authority granted in the power of attorney presented.
(b) A person is not required to accept an acknowledged power of attorney if:
(1) the person is not otherwise required to engage in a transaction with the principal in the same circumstances;
(2) engaging in a transaction with the agent or the principal in the same circumstances would be inconsistent with federal law, including, without limitation, federal rules and federal regulations;
(3) the person has actual knowledge of the termination of the agent's authority or of the power of attorney before exercise of the power;
(4) a request for a certification, a translation, or an opinion of counsel under RSA 564-E:119(d) is refused;
(5) the person in good faith believes that the power is not valid or that the agent does not have the authority to perform the act requested, whether or not a certification, a translation, or an opinion of counsel under RSA 564-E:119(d) has been requested or provided; or
(6) the person makes, or has actual knowledge that another person has made, a report to the appropriate adult protective services or law enforcement agency stating a good faith belief that the principal may be subject to physical or financial abuse, neglect, exploitation, or abandonment by the agent or a person acting for or with the agent.
(c) A person that refuses in violation of this section to accept an acknowledged power of attorney:
(1) is subject to a court order mandating acceptance of the power of attorney; and
(2) may be held liable for reasonable attorney's fees and costs incurred in any action or proceeding that confirms the validity of the power of attorney or mandates acceptance of the power of attorney.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:121 - Principles of Law and Equity.

564-E:121 Principles of Law and Equity. –
Unless displaced by a provision of this chapter, the principles of law and equity supplement this chapter.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:122 - Laws Applicable to Financial Institutions and Entities.

564-E:122 Laws Applicable to Financial Institutions and Entities. –
This chapter does not supersede any other law applicable to financial institutions or other entities, and the other law controls if inconsistent with this chapter.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:123 - Remedies Under Other Law.

564-E:123 Remedies Under Other Law. –
The remedies under this chapter are not exclusive and do not abrogate any right or remedy under the law of this state other than this chapter.
Source.
2017, 178:1, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-E - Uniform Power of Attorney Act › Section 564-E:202 - Incorporation of Authority.

564-E:202 Incorporation of Authority. –
(a) An agent has authority described in this article if the power of attorney refers to general authority with respect to the descriptive term for the subjects stated in RSA 564-E:204 through RSA 564-E:217 or cites the section in which the authority is described.
(b) A reference in a power of attorney to general authority with respect to the descriptive term for a subject in RSA 564-E:204 through RSA 564-E:217 or a citation to a section of RSA 564-E:204 through RSA 564-E:217 incorporates the entire section as if it were set out in full in the power of attorney.
(c) A principal may modify authority incorporated by reference.
Source.
2017, 178:1, eff. Jan. 1, 2018.