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RSA 564-F:18-1808 · Exculpation of a Foundation Official

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:18-1808 Exculpation of a Foundation Official. –

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(a)

Subject to subsection (b), a provision of the governing documents relieving a foundation official of liability for breach of duty is enforceable except to the extent that the provision relieves the foundation official of liability for a breach of duty for:

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(1)

Failing to act in good faith; or

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(2)

Acting with reckless indifference to the foundation's purposes or the beneficiaries' interests.

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(b)

A provision of the governing documents relieving a foundation official of liability for breach of duty is unenforceable if the provision was inserted as the result of an abuse by the foundation official of a fiduciary or confidential relationship to the founder. 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