New Hampshire Revised Statutes 292:14 – Unincorporated Association Receiving and Using Donations
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Terms Used In New Hampshire Revised Statutes 292:14
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- United States: shall include said district and territories. See New Hampshire Revised Statutes 21:4
If a donation, grant or gift be made to any unincorporated association, society, foundation or similar organization, it shall be a corporation so far as may be necessary to take, hold, manage, use and convey any such donation, gift or grant made to it. Any donations, gifts or grants heretofore made to any such association, society, foundation or similar organization are hereby fully ratified and confirmed to them in their aforesaid corporate capacity, and said association, society, foundation or similar organization may sue and be sued in regard to such property in said corporate capacity. The directors, trustees or other similar officers of such unincorporated association, society, foundation or similar organization, if citizens of the United States, shall have the power of taking, holding and conveying in succession grants, gifts and donations whether real or personal estate made either to them and their successors or to their respective association, society, foundation or similar organization, or to their beneficiaries.