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Press Release

For Immediate Release
June 27, 2013

Contact:
Communications Office
(603)271-2121

Governor Hassan Signs Bill Updating New Hampshire Corporations Act
Bipartisan SB 41 Intended to Spur Economic Development, Create Jobs

CONCORD - Governor Maggie Hassan signed SB 41, bipartisan legislation that updates the New Hampshire Corporations Act in an effort to make New Hew Hampshire more competitive in attracting companies and jobs to the state.

"Our focus remains on supporting New Hampshire's existing businesses and attracting new companies so we can create good jobs and build a more innovative economic future," Governor Hassan said. "SB 41 is an important part of these efforts, providing much-needed updates to the New Hampshire Corporations Act that will help spur economic development, create jobs and make New Hampshire an even more desirable place to do business."

A top priority of the New Hampshire Business and Industry Association (BIA) this legislative session, SB 41 was the result of collaborative work between the business industry and Senate and House leaders from both parties. Providing important updates to the laws that govern how corporations domicile, do business and dissolve in New Hampshire, the measure was lauded as a win for New Hampshire's business community.

The New Hampshire Corporations Act was originally passed by the legislature in 1993. Since then, few changes have been made to the New Hampshire laws that provide guidelines on how corporations are formed, governed and dissolved. The changes made by SB 41 reflect current methods of doing business and best practices, drawing on 20 years of experience in other states while also remaining tailored for New Hampshire and including shareholder rights and protections.