New Hampshire Revised Statutes 564-F:18-1808 – Exculpation of a Foundation Official
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(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.
(1) Failing to act in good faith; or
Terms Used In New Hampshire Revised Statutes 564-F:18-1808
- Fiduciary: A trustee, executor, or administrator.
(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.