2001 SESSION

01-1032

04/01

HOUSE BILL 739

COMMITTEE: Judiciary

ANALYSIS

This bill establishes a committee to study the application of the rule against perpetuities specifically in the area of private trusts.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

01-1032

04/01

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand One

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

1 Committee Established. There is established a committee to study the application of the rule against perpetuities.

2 Membership and Compensation.

I. The members of the committee shall be as follows:

(a) Three members of the house of representatives, appointed by the speaker of the house.

(b) Three members of the senate, appointed by the president of the senate.

II. The committee may consult with any individual with information or expertise relevant to the committee's areas of inquiry.

III. Legislative members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.

3 Duties. The committee shall:

I. Study the application of the rule against perpetuities, specifically in the area of private trusts, and shall analyze whether the rule should be statutorily abolished or modified.

II. Determine the effect of abolishing or modifying the rule against perpetuities on other areas of the law.

III. Conduct an inquiry into any other area or issue deemed relevant to the committee's objective.

4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named house member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Four members of the committee shall constitute a quorum.

5 Report. The committee shall report its findings and any recommendations for proposed legislation to the speaker of the house of representatives, the senate president, the house clerk, the senate clerk, the governor, and the state library on or before November 1, 2001.

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