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2018 New Hampshire Revised Statutes
Title LVI - Probate Courts and Decedents' Estates
Chapter 564-F - New Hampshire Foundation Act
Section 564-F:18-1808 - Exculpation of a Foundation Official.
Universal Citation: NH Rev Stat § 564-F:18-1808 (2018)
564-F:18-1808 Exculpation of a Foundation Official. –
(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:
(1) Failing to act in good faith; or
(2) Acting with reckless indifference to the foundation's purposes or the beneficiaries' interests.
(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.
(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:
(1) Failing to act in good faith; or
(2) Acting with reckless indifference to the foundation's purposes or the beneficiaries' interests.
(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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