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RSA 564-F:15-1501 · Liability of Foundation Officials and Beneficiaries to Third Parties

Title
LVI: PROBATE COURTS AND DECEDENTS' ESTATES
Chapter
564-F · NEW HAMPSHIRE FOUNDATION ACT
Status
current
Official source linked
Yes
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564-F:15-1501 Liability of Foundation Officials and Beneficiaries to Third Parties. –

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(a)

Subject to RSA 564-F:20-2007 and subsection (c), a foundation's debts, obligations, and liabilities, whether arising in contract, tort, or otherwise, shall be solely the foundation's debts, obligations, and liabilities.

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(b)

Subject to RSA 564-F:20-2007 and subsection (c), a founder, foundation official, or beneficiary shall not be personally liable for any of the foundation's debts, obligations, and liabilities solely by reason of being a founder, foundation official, or beneficiary.

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(c)

A founder, foundation official, or beneficiary may agree to be personally liable for any or all of the foundation's debts, obligations, and liabilities. Source. 2017, 257:47, eff. Oct. 1, 2017.

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Source note

Source. 2017, 257:47, eff. Oct. 1, 2017.

Source history

  • 2017, 257:47, eff. Oct. 1, 2017