For purposes of this article, the following definitions shall apply:
(a) "
Limited-scope discretionary power
" means discretionary power with respect to a trust if: (i) the terms of the trust confer simultaneous, discretionary authority on two or more persons; (ii) the power represents only a portion of the full range of discretionary powers conferred by the terms of the trust instrument on all persons that can exercise discretionary powers under the terms of the trust; and (iii) the power generally is directed toward a singular area of discretion. Limited-scope discretionary power may be any one of the following powers, but generally would not include more than one of the following: the power to make or direct discretionary distributions, the power to decant, the power to add or remove beneficiaries, the power to veto decisions by another fiduciary.
(b) "
Qualified trust advisor
" means (i) any person that serves as a trust advisor or as a trust protector and, in that capacity, exercises only limited-scope discretionary power as to a trust, and (ii) any other person designated as a qualified trust advisor pursuant to rules adopted by the commissioner under this article.
(c) "
Registered advisor
" means an entity that is (i) an investment advisor or broker-dealer that maintains a valid registration under state or federal law or (ii) a commodity trading advisor registered under federal law.
(d) "
Trust advisor
" means a trust advisor as defined in RSA 564-B:1-103(27).
(e) "
Trust protector
" means a trust protector as defined in RSA 564-B:1-103(28).
Source. 2015, 272:16, eff. Oct. 1, 2015.