RSA 564-F:18-1809 · Beneficiary's Consent, Release, or Ratification

564-F:18-1809 Beneficiary's Consent, Release, or Ratification. –

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(a)

Subject to subsection (b), a foundation official is not liable to a beneficiary for breach of duty if the beneficiary:

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(1)

Consented to the conduct constituting the breach of duty;

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(2)

Released the foundation official from liability for the breach of duty; or

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(3)

Ratified the transaction constituting the breach of duty.

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(b)

For purposes of subsection (a), a beneficiary's consent, release, or ratification is invalid if:

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(1)

In making the consent, release, or ratification, the beneficiary was induced by a foundation official's improper conduct; or

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(2)

At the time of making the consent, release, or ratification, the beneficiary did not know of the beneficiary's rights or the material facts relating to the breach of duty. Source. 2017, 257:47, eff. Oct. 1, 2017. ARTICLE 19 Merger

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