New Hampshire Revised Statutes 564-F:16-1606 – Nonjudicial Settlement Agreement
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(a) For purposes of this section, “interested person” means each of the following persons:
(1) A founder;
(2) A foundation official;
(3) A person who, under the governing documents, has the power to enforce the terms of the governing documents;
(4) If the trust is a charitable trust, the director of charitable trusts; and
(5) Any other person whose consent would be required in order to achieve a binding settlement if a court would approve the settlement.
(b) Subject to subsection (c), all of the interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a foundation.
(c) A nonjudicial settlement agreement is valid only to the extent that:
(1) It does not violate any of the foundation’s material purpose; and
(2) It includes only terms and conditions that could be properly approved by a court under this chapter or other applicable law.
(d) Matters that may be resolved by a nonjudicial settlement agreement include:
(1) The interpretation or construction of the governing documents;
(2) The modification of the governing documents;
(3) The approval of a director’s report or accounting;
(4) A direction to a foundation official to refrain from performing a particular act or the grant to a foundation official of any necessary or desirable power;
(5) A foundation official’s appointment or resignation;
(6) The determination of a foundation official’s compensation;
(7) A foundation official’s liability for an action relating to the foundation; and
(8) The foundation’s dissolution.
(e) Any interested person may commence a judicial proceeding requesting that the court:
(1) Approve a nonjudicial settlement agreement;
(2) Determine whether the representation under 564-F:14-1402 was adequate; and
(3) Determine whether the agreement contains terms and conditions the court could have properly approved.
(1) A founder;
Terms Used In New Hampshire Revised Statutes 564-F:16-1606
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(2) A foundation official;
(3) A person who, under the governing documents, has the power to enforce the terms of the governing documents;
(4) If the trust is a charitable trust, the director of charitable trusts; and
(5) Any other person whose consent would be required in order to achieve a binding settlement if a court would approve the settlement.
(b) Subject to subsection (c), all of the interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a foundation.
(c) A nonjudicial settlement agreement is valid only to the extent that:
(1) It does not violate any of the foundation’s material purpose; and
(2) It includes only terms and conditions that could be properly approved by a court under this chapter or other applicable law.
(d) Matters that may be resolved by a nonjudicial settlement agreement include:
(1) The interpretation or construction of the governing documents;
(2) The modification of the governing documents;
(3) The approval of a director’s report or accounting;
(4) A direction to a foundation official to refrain from performing a particular act or the grant to a foundation official of any necessary or desirable power;
(5) A foundation official’s appointment or resignation;
(6) The determination of a foundation official’s compensation;
(7) A foundation official’s liability for an action relating to the foundation; and
(8) The foundation’s dissolution.
(e) Any interested person may commence a judicial proceeding requesting that the court:
(1) Approve a nonjudicial settlement agreement;
(2) Determine whether the representation under 564-F:14-1402 was adequate; and
(3) Determine whether the agreement contains terms and conditions the court could have properly approved.