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2019 New Hampshire Revised Statutes
Title LVI - Probate Courts and Decedents' Estates
Chapter 564-F - New Hampshire Foundation Act
Section 564-F:15-1501 - Liability of Foundation Officials and Beneficiaries to Third Parties.
Universal Citation: NH Rev Stat § 564-F:15-1501 (2019)
564-F:15-1501 Liability of Foundation Officials and Beneficiaries to Third Parties. –
(a) Subject to RSA 564-F:20-2007 and subsection (c), a foundation's debts, obligations, and liabilities, whether arising in contract, tort, or otherwise, shall be solely the foundation's debts, obligations, and liabilities.
(b) Subject to RSA 564-F:20-2007 and subsection (c), a founder, foundation official, or beneficiary shall not be personally liable for any of the foundation's debts, obligations, and liabilities solely by reason of being a founder, foundation official, or beneficiary.
(c) A founder, foundation official, or beneficiary may agree to be personally liable for any or all of the foundation's debts, obligations, and liabilities.
(a) Subject to RSA 564-F:20-2007 and subsection (c), a foundation's debts, obligations, and liabilities, whether arising in contract, tort, or otherwise, shall be solely the foundation's debts, obligations, and liabilities.
(b) Subject to RSA 564-F:20-2007 and subsection (c), a founder, foundation official, or beneficiary shall not be personally liable for any of the foundation's debts, obligations, and liabilities solely by reason of being a founder, foundation official, or beneficiary.
(c) A founder, foundation official, or beneficiary may agree to be personally liable for any or all of the foundation's debts, obligations, and liabilities.
Source. 2017, 257:47, eff. Oct. 1, 2017.
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