Section 564-F:18-1803 – Damages in Absence of Breach of Duty.
564-F:18-1803 Damages in Absence of Breach of Duty. – (a) Even absent a breach of duty, a foundation official is accountable to an affected beneficiary for any profit made by the foundation official arising from the foundation’s administration. (b) Absent a breach of duty, a foundation official is not liable to a beneficiary for […]
Section 564-F:18-1804 – Attorney’s Fees and Costs.
564-F:18-1804 Attorney’s Fees and Costs. – In a judicial proceeding involving a foundation’s administration, the court may award costs and expenses as justice and equity may require, including reasonable attorney’s fees, to any party, to be paid by another party or from the foundation that is the subject of the controversy. Source. 2017, 257:47, […]
Section 564-F:18-1805 – Limitation of Action Against a Foundation Official.
564-F:18-1805 Limitation of Action Against a Foundation Official. – (a) A judicial proceeding against a foundation official for breach of duty may be commenced only within the earliest of: (1) In the case of a claim by a beneficiary, one year after the beneficiary was sent a report that adequately disclosed the existence of […]
Section 564-F:18-1806 – Reliance on the Governing Documents.
564-F:18-1806 Reliance on the Governing Documents. – A foundation official who acts in reasonable reliance on the foundation’s governing documents is not liable to any person for a breach of duty to the extent that the breach of duty resulted from that reliance. Source. 2017, 257:47, eff. Oct. 1, 2017.
Section 564-F:16-1607 – Nonjudicial Dispute Resolution.
564-F:16-1607 Nonjudicial Dispute Resolution. – (a) For purposes of this section, the following definitions shall apply: (1) " Interested person " means any person who would be an interested person in a judicial proceeding to resolve a dispute. (2) " Dispute " means any matter in which a court has subject-matter jurisdiction under 564-F:16-1603, […]
Section 564-F:17-1701 – Modification.
564-F:17-1701 Modification. – (a) A court may modify a foundation’s certificate of formation or its bylaws if: (1) All of the foundation officials consent to the modification; (2) All of the beneficiaries consent to the modification; (3) To the extent that the foundation is a charitable trust, the director of charitable trusts consents to […]
Section 564-F:17-1702 – Reformation.
564-F:17-1702 Reformation. – (a) A court may reform a foundation’s certificate of formation or its bylaws for purposes of conforming the certificate of formation or the bylaws to the founder’s intent if: (1) Whether in the expression or inducement, the foundation’s certificate of formation or its bylaws were affected by a mistake of fact, […]
Section 564-F:14-1404 – Enforcement of No-Contest Provision.
564-F:14-1404 Enforcement of No-Contest Provision. – (a) For the purposes of this section, a " no-contest provision " means a provision of the governing documents that, if given effect, would reduce or eliminate a beneficiary’s interest because the beneficiary directly or indirectly initiates or otherwise pursues: (1) Any judicial proceeding against the foundation or […]
Section 564-F:15-1501 – Liability of Foundation Officials and Beneficiaries to Third Parties.
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 […]
Section 564-F:15-1502 – Liability of Foundation for Certain Claims Against a Founder.
564-F:15-1502 Liability of Foundation for Certain Claims Against a Founder. – (a) A transfer of property by a founder to the foundation shall not be void or voidable solely by reason that the transfer defeats any forced heirship, legitime, forced share, or any similar heirship right under the laws of a foreign jurisdiction. (b) […]