RSA 564-F:8-801 · General Powers

564-F:8-801 General Powers. –

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(a)

Unless the governing documents provide otherwise, a foundation shall have the power to do all things necessary or convenient to carry out its activities and internal affairs, including the capacity to sue and be sued in its own name.

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(b)

Subject to subsection (c), the validity of an action taken by a foundation may not be challenged on the ground that the foundation lacks or lacked power to act.

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(c)

A foundation's power to act may be challenged:

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(1)

In a proceeding by any of the following persons against the foundation to enjoin the act:

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(A)

A founder;

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(B)

A foundation official;

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(C)

A beneficiary; or

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(D)

To the extent that the foundation is a charitable trust, the director of charitable trusts;

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(2)

In a proceeding by the foundation, directly, derivatively, or through a receiver, trustee, or other legal representative, against an incumbent or former foundation official, employee, or agent of the foundation; or

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(3)

In a proceeding by the attorney general under RSA 564-F:20-2013(a) to dissolve the foundation.

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(d)

In a judicial proceeding under subsection (c)(1), the court may:

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(1)

Enjoin or set aside the act if:

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(A)

It is equitable to do so; and

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(B)

All of the affected persons are parties to the proceeding; and

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(2)

Award damages for loss suffered by the foundation or another party because of enjoining the unauthorized act. Source. 2017, 257:47, eff. Oct. 1, 2017. 2018, 210:2, eff. June 8, 2018.

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