New Hampshire Revised Statutes 564-F:18-1802 – Damages for Breach of Duty
Current as of: 2023 | Check for updates
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(a) A foundation official who commits a breach of duty is liable to the affected beneficiaries for the greater of:
(1) The amount required to restore the value of the foundation’s property and distributions to what they would have been had the breach of duty not occurred; or
(2) the profit that the foundation official made by reason of the breach of duty.
(b) Except as otherwise provided in subsection (c) or (d), a foundation official is entitled to contribution from the other foundation officials to the extent permitted by N.H. Rev. Stat. § 507:7-f if more than one foundation official is liable to the beneficiaries for a breach of duty.
(c) A foundation official is not entitled to contribution if:
(1) The foundation official was substantially more at fault than another foundation officials; or
(2) The foundation official committed the breach of duty in bad faith or with reckless indifference to the foundation’s purposes or the beneficiaries’ interests.
(d) A foundation official who received a benefit from the breach of duty is not entitled to contribution from another foundation official to the extent of the benefit received.
(1) The amount required to restore the value of the foundation’s property and distributions to what they would have been had the breach of duty not occurred; or
(2) the profit that the foundation official made by reason of the breach of duty.
(b) Except as otherwise provided in subsection (c) or (d), a foundation official is entitled to contribution from the other foundation officials to the extent permitted by N.H. Rev. Stat. § 507:7-f if more than one foundation official is liable to the beneficiaries for a breach of duty.
(c) A foundation official is not entitled to contribution if:
(1) The foundation official was substantially more at fault than another foundation officials; or
(2) The foundation official committed the breach of duty in bad faith or with reckless indifference to the foundation’s purposes or the beneficiaries’ interests.
(d) A foundation official who received a benefit from the breach of duty is not entitled to contribution from another foundation official to the extent of the benefit received.