Section 35:16-a – Discontinuing Fund.
35:16-a Discontinuing Fund. – Any town, school district, village district or county which has established a capital reserve fund pursuant to the provisions of this chapter may, as provided by RSA 35:3, vote to discontinue such capital reserve fund. If such fund is discontinued, the trustees of the trust fund holding the account for […]
Section 35:17 – Audit; Records.
35:17 Audit; Records. – The accounts of the persons holding capital reserve funds shall be audited annually by the auditor of the town, in the case of a town, district, or water works department, or by the commissioner of revenue administration, in the case of a county, the securities shall be exhibited to said […]
Section 35:18 – Disbursements.
35:18 Disbursements. – No person holding in custody such capital reserve fund shall make any payment of income or principal or authorize the same to be done except in accordance with the provisions hereof. Whoever violates the provisions of this section shall be guilty of a misdemeanor if a natural person, or guilty of […]
Section 35:9-a – Professional Banking or Brokerage Assistance.
35:9-a Professional Banking or Brokerage Assistance. – I. Any trustee or trustees of trust funds having custody of capital reserve funds authorized by this chapter may contract with the trust department or departments of a bank, a brokerage firm, a portfolio management department, or investment advisor in the same manner and for the same […]
Section 35:10 – Trustees of Funds.
35:10 Trustees of Funds. – The trustees of trust funds of a town or city shall have custody of any capital reserve of a town, district or water departments therein, the trustees of trust funds as provided in RSA 35:2 shall have custody of such capital reserve of a school district, and the county […]
Section 35:11 – Payments from Surplus.
35:11 Payments from Surplus. – Whenever any town shall have voted to transfer any accumulated surplus to the capital reserve fund, the town clerk shall forward to the board of selectmen and to the town treasurer, within 10 days of the adoption of such vote, a certified copy of the same. The selectmen shall […]
Section 35:12 – Appropriation.
35:12 Appropriation. – Whenever the vote of the town is to appropriate any sum for the capital reserve fund pursuant to RSA 35:5, the same duties shall devolve upon the town clerk, selectmen, and town treasurer, as specified in RSA 35:11, except that the order must be drawn, and the sum transferred on or […]
Section 35:13 – School or Village District.
35:13 School or Village District. – When a capital reserve fund is established by a school or village district, the same duties shall devolve upon the clerk of the school or village district, the members of the school board or the commissioners of the village district, the treasurer of the school district or the […]
Section 35:14 – Penalty.
35:14 Penalty. – Any of the above officers failing to perform the duties above set forth, shall be guilty of a violation for every week said failure shall continue. Source. 1947, 91:2, par. 8d. RSA 35:14. 1973, 531:9, eff. Oct. 31, 1973, at 11:59 p.m.
Section 35:15 – Expenditures.
35:15 Expenditures. – I. Persons holding said capital reserve funds in trust, as provided in this chapter, shall hold the same until such time as the town, district or county shall have voted to withdraw funds from such capital reserve fund or shall have named agents of the town, district or county to carry […]