New Hampshire Revised Statutes 564-F:20-2008 – Director Duties
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(a) A director of a dissolved foundation shall have the following duties:
(1) A duty to cause the dissolved foundation to discharge its liabilities or make reasonable provision for discharging its liabilities; and
(2) A duty to cause the dissolved foundation to distribute its remaining property in accordance with the governing documents.
(b) A director of a dissolved foundation that has disposed of claims under N.H. Rev. Stat. § 564-F:20-2006 or N.H. Rev. Stat. § 564-F:20-2007 shall not be liable for breach of subsection (a) to the extent that the claim against the dissolved foundation is barred or satisfied under N.H. Rev. Stat. § 564-F:20-2006 or N.H. Rev. Stat. § 564-F:20-2007.
(1) A duty to cause the dissolved foundation to discharge its liabilities or make reasonable provision for discharging its liabilities; and
Terms Used In New Hampshire Revised Statutes 564-F:20-2008
- 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
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(2) A duty to cause the dissolved foundation to distribute its remaining property in accordance with the governing documents.
(b) A director of a dissolved foundation that has disposed of claims under N.H. Rev. Stat. § 564-F:20-2006 or N.H. Rev. Stat. § 564-F:20-2007 shall not be liable for breach of subsection (a) to the extent that the claim against the dissolved foundation is barred or satisfied under N.H. Rev. Stat. § 564-F:20-2006 or N.H. Rev. Stat. § 564-F:20-2007.