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2017 New Hampshire Revised Statutes
Title LVI - PROBATE COURTS AND DECEDENTS' ESTATES
Chapter 564-F - NEW HAMPSHIRE FOUNDATION ACT
Section 564-F:10-1005 - Appointment and Term.
Universal Citation: NH Rev Stat § 564-F:10-1005 (2017)
564-F:10-1005 Appointment and Term. –
(a) The initial directors shall be appointed by:
(1) The organizers; or
(2) The founder.
(b) After the appointment of the initial directors, any additional or successor director shall be appointed:
(1) In accordance with the provisions of the governing documents governing the appointment of directors; or
(2) If the governing documents do not contain any provision for the appointment of directors, by:
(A) The directors; or
(B) An amendment of the governing documents.
(c) Unless the governing documents provide otherwise, the duration of a director's term shall be indefinite and shall terminate only upon:
(1) In the case of a director who is an individual, the director's death, resignation, or removal; or
(2) In the case of a director that is an entity, the director's dissolution, resignation, or removal.
(1) The organizers; or
(2) The founder.
(b) After the appointment of the initial directors, any additional or successor director shall be appointed:
(1) In accordance with the provisions of the governing documents governing the appointment of directors; or
(2) If the governing documents do not contain any provision for the appointment of directors, by:
(A) The directors; or
(B) An amendment of the governing documents.
(c) Unless the governing documents provide otherwise, the duration of a director's term shall be indefinite and shall terminate only upon:
(1) In the case of a director who is an individual, the director's death, resignation, or removal; or
(2) In the case of a director that is an entity, the director's dissolution, resignation, or removal.
Source. 2017, 257:47, eff. Oct. 1, 2017.
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