reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:6-601 - Purpose.

564-F:6-601 Purpose. –
(a) A foundation shall have one or more purposes.
(b) Each of the purposes shall be:
(1) Lawful;
(2) Not contrary to public policy; and
(3) Possible to achieve.
(c) A foundation's purposes may include any charitable purpose and any noncharitable purpose.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:7-701 - Bylaws.

564-F:7-701 Bylaws. –
(a) The founder, organizers, or initial directors shall adopt the foundation's initial bylaws.
(b) The foundation's bylaws shall set forth each of the foundation's purposes.
(c) Except to the extent that it is inconsistent with the certificate of formation, this chapter, or any other applicable law, the foundation's bylaws may set forth any of the following:
(1) Any provision defining, limiting, or regulating capital contributions;
(2) Any provision defining, limiting, or regulating a founder's rights, powers, and interests in the foundation;
(3) Any provision defining, limiting, or regulating the manner in which the foundation property may be applied, distributed, or accumulated;
(4) Any provision imposing obligations upon beneficiaries as a condition of any distribution or other benefit;
(5) Any provision for the revocable or irrevocable addition of one or more beneficiaries or classes of beneficiaries;
(6) Any provision for the revocable or irrevocable elimination of one or more beneficiaries or classes of beneficiaries;
(7) Any provision defining, limiting, or regulating the duties, powers, and liabilities of one or more foundation officials or classes of foundation officials;
(8) Any provision regarding the appointment, resignation, and removal of foundation officials;
(9) A nonjudicial dispute resolution provision in accordance with RSA 564-F:16-1606;
(10) A no-contest provision in accordance with RSA 564-F:14-1404; and
(11) Any provision regarding any other matter that the founder or the board of directors deems necessary or advisable.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:7-702 - Reserved Powers.

564-F:7-702 Reserved Powers. –
(a) The founder may reserve any one or more powers, rights, and interests, including any of the following:
(1) The power to amend or restate the foundation's certificate of formation;
(2) The power to amend, restate, or revoke the foundation's bylaws;
(3) The power to appoint any one or more foundation officials;
(4) The power to remove any one or more foundation officials;
(5) The power to direct the directors to distribute some or all of the foundation's property to one or more beneficiaries or in furtherance of one or more of the foundation's purposes;
(6) The power to direct the directors concerning the investment of the foundation property;
(7) The right to receive distributions from the foundation; and
(8) The power to dissolve the foundation.
(b) Unless the governing documents provide otherwise, the founder retains the following powers, rights, and interests:
(1) The power to amend or restate the foundation's certificate of formation;
(2) The power to amend, restate, or revoke the foundation's bylaws;
(3) The power to direct the directors concerning distributions of the foundation's property;
(4) The right to receive distributions from the foundation; or
(5) The power to dissolve the foundation.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:7-703 - Amendment and Restatement of the Bylaws.

564-F:7-703 Amendment and Restatement of the Bylaws. –
Unless the governing documents provide otherwise, the following persons may revoke, amend, or restate the bylaws:
(a) The founder; or
(b) The board of directors.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:8-801 - General Powers.

564-F:8-801 General Powers. –
(a) Unless the governing documents provide otherwise, a foundation shall have the power to do all things necessary or convenient to carry out its activities and internal affairs, including the capacity to sue and be sued in its own name.
(b) Subject to subsection (c), the validity of an action taken by a foundation may not be challenged on the ground that the foundation lacks or lacked power to act.
(c) A foundation's power to act may be challenged:
(1) In a proceeding by any of the following persons against the foundation to enjoin the act:
(A) A founder;
(B) A foundation official;
(C) A beneficiary; or
(D) To the extent that the foundation is a charitable trust, the director of charitable trusts;
(2) In a proceeding by the foundation, directly, derivatively, or through a receiver, trustee, or other legal representative, against an incumbent or former foundation official, employee, or agent of the foundation; or
(3) In a proceeding by the attorney general under RSA 564-F:20-2013(a) to dissolve the foundation.
(d) In a judicial proceeding under subsection (c)(1), the court may:
(1) Enjoin or set aside the act if:
(A) It is equitable to do so; and
(B) All of the affected persons are parties to the proceeding; and
(2) Award damages for loss suffered by the foundation or another party because of enjoining the unauthorized act.
Source.
2017, 257:47, eff. Oct. 1, 2017. 2018, 210:2, eff. June 8, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:8-802 - Trust Powers.

564-F:8-802 Trust Powers. –
(a) A foundation shall have trust powers to the extent that it:
(1) Does not transact business with the general public;
(2) Is a family trust company as defined in RSA 383-A:2-201(a)(26); or
(3) Is a foreign family trust company that is authorized to engage in trust business in this state under RSA 383-D:13-1301.
(b) Trust powers include the power to act as a trustee or other fiduciary, a trust advisor as defined in RSA 564-B:1-103(27), or a trust protector as defined in RSA 564-B:1-103(28).
(c) For purposes of subsection (a)(1), a foundation does not transact business with the general public to the extent that the foundation:
(1) Qualifies as a family office under 15 U.S.C. section 80b-2(a)(11)(G); or
(2) Offers and provides its services only to persons who would qualify as family clients as defined in RSA 383-D:2-201(b)(5) if the foundation was chartered as a family trust company under RSA 383-D.
(d) For purposes of subsection (c)(2), a foundation may use any reasonable method for:
(1) Identifying a designated relative as defined in RSA 383-D:2-201(b)(2); and
(2) Selecting a method for determining family members as described in RSA 383-D:4-402(b)(2) or (c).
(e) A foundation described in subsection (a)(1) shall be exempt from RSA Title 35 and shall not be subject to the jurisdiction of the New Hampshire bank commissioner.
(f) To the extent that a foundation other than a foundation described in subsection (a)(2) or (a)(3) transacts business with the general public, the following shall apply:
(1) Any action by the foundation shall not be void or voidable solely by reason of the foundation transacting business with the general public.
(2) Each of the foundation's directors shall be personally, jointly, and severally liable for all liabilities created by the foundation transacting business with the general public, including any breach of a fiduciary duty to a member of the general public.
(3) A director's liability under subsection (f)(2) is in addition to any civil or criminal penalties imposed by applicable law.
(g) This section does not restrict the rights and remedies of any person affected by a foundation's exercise of trust powers, including the right to commence a judicial proceeding seeking:
(1) A remedy for a breach of trust under RSA 564-B:10-1001;
(2) Damages for a breach of trust under RSA 564-B:10-1002; or
(3) Damages under RSA 564-B:10-1003.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:9-901 - Capital.

564-F:9-901 Capital. –
(a) Any property may be contributed to a foundation's capital.
(b) After the initial contribution to a foundation's capital, additional contributions to a foundation's capital shall be made as follows:
(1) An additional contribution shall be made in substantial compliance with the provisions of the certificate of formation and bylaws concerning additional contributions; or
(2) If the certificate of formation and bylaws do not contain any provision concerning additional contributions, the additional contribution shall be made in accordance with the terms and conditions that the directors deem prudent, considering the foundation's purposes and the beneficiaries' interests.
(c) Subject to RSA 564-F:7-702(b), a founder shall not have any right, power, or interest in a foundation solely by reason of contributing property to the foundation.
Source.
2017, 257:47, eff. Oct. 1, 2017. 2018, 210:3, eff. June 8, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1001 - Board of Directors.

564-F:10-1001 Board of Directors. –
(a) A foundation shall have a board of directors.
(b) Unless the governing documents provide otherwise, the board of directors shall have general responsibility for managing the foundation's affairs and the authority to exercise the foundation's powers.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1002 - Qualifications.

564-F:10-1002 Qualifications. –
(a) The governing documents may prescribe qualifications for directors.
(b) Unless the governing documents provide otherwise, a director may be:
(1) An individual or an entity; and
(2) A resident of any jurisdiction and need not be a resident of this state.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1003 - Number.

564-F:10-1003 Number. –
(a) A foundation shall have at least one director.
(b) Subject to subsection (a), the number of directors may be increased or decreased:
(1) In accordance with the provisions of the governing documents governing the method for increasing or decreasing the number of directors; or
(2) By an amendment of the governing documents.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1004 - Classes.

564-F:10-1004 Classes. –
(a) A foundation may have one or more classes of directors.
(b) Each class of directors shall have the duties and powers assigned to that class under the governing documents.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1005 - Appointment and Term.

564-F:10-1005 Appointment and Term. –
(a) The initial directors shall be appointed by:
(1) The organizers; or
(2) The founder.
(b) After the appointment of the initial directors, any additional or successor director shall be appointed:
(1) In accordance with the provisions of the governing documents governing the appointment of directors; or
(2) If the governing documents do not contain any provision for the appointment of directors, by:
(A) The directors; or
(B) An amendment of the governing documents.
(c) Unless the governing documents provide otherwise, the duration of a director's term shall be indefinite and shall terminate only upon:
(1) In the case of a director who is an individual, the director's incapacity, death, resignation, or removal; or
(2) In the case of a director that is an entity, the director's dissolution, resignation, or removal.
Source.
2017, 257:47, eff. Oct. 1, 2017. 2018, 210:6, eff. June 8, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1006 - Resignation.

564-F:10-1006 Resignation. –
(a) A director may resign at any time by delivering written notice of the resignation to:
(1) The other directors; and
(2) The persons who have the power to appoint a successor director.
(b) A resignation is effective upon the delivery of the notice of resignation, unless that notice specifies a later effective date or an effective date determined upon the happening of an event or events.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1007 - Removal.

564-F:10-1007 Removal. –
(a) A director may be removed in accordance with the governing documents.
(b) The court may remove a director if:
(1) The director has committed a serious breach of duty;
(2) Lack of cooperation among the directors substantially impairs the management of the foundation's affairs;
(3) Because of unfitness, unwillingness, or persistent failure of the director to manage the foundation effectively, the court determines that removal of the director best serves the foundation's purposes and the beneficiaries' interests; or
(4) The court finds that:
(A) There has been a substantial change of circumstances or all of the beneficiaries request the removal;
(B) The director's removal best serves the beneficiaries' interests and the foundation's purposes;
(C) The director's removal is not inconsistent with any of the foundation's material purposes; and
(D) One or more suitable persons are continuing to serve as directors or a suitable successor director is available.
(c) For purposes of subsection (b)(4)(C), the removal of a person whom the founder personally appointed as a director is presumptively inconsistent with one of the foundation's material purposes, but that presumption may be rebutted by a preponderance of the evidence.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1008 - Committees.

564-F:10-1008 Committees. –
(a) Unless the governing documents provide otherwise, the directors may:
(1) Establish one or more committees;
(2) Appoint one or more directors as members of a committee;
(3) Remove one or more members of a committee; and
(4) Terminate any committee.
(b) To the extent specified by the directors or in the governing documents, each committee may exercise the powers of the directors.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1009 - Delegation.

564-F:10-1009 Delegation. –
(a) Unless the governing documents provide otherwise, the directors may delegate to any one or more persons any duty or power that prudent directors of comparable skills and having the same power or duty could properly delegate under the circumstances.
(b) The directors may delegate a duty or power to a person who is associated or affiliated with any of the directors to the extent permitted under RSA 564-F:11-1102.
(c) In delegating to an agent, the directors shall exercise reasonable care, skill, and caution in:
(1) Selecting an agent;
(2) Establishing the scope and terms of the delegation, consistent with the foundation's purposes and the beneficiaries' interests; and
(3) Periodically reviewing the agent's actions for the purpose of monitoring the agent's performance and compliance with the scope and terms of the delegation.
(d) To the extent that the directors comply with subsections (a) and (c), the directors are not liable to the foundation or the beneficiaries for an act or omission of the agent to whom the power or duty was delegated.
(e) A director's delegation of a power or duty to an agent under a power of attorney shall not be valid unless the power of attorney expressly refers to the director in his, her, or its capacity as a director of the foundation.
(f) In the case of a director who is an individual, the director's delegation of any power or duty to an agent under a power of attorney shall terminate upon the director's incapacity unless:
(1) The governing documents provide that the delegation may remain effective during the director's incapacity; and
(2) The power of attorney provide that the delegation does not terminate upon the director's incapacity.
(g) In performing a delegated duty or power, an agent owes to the foundation a duty to exercise reasonable care to comply with the terms of the delegation.
(h) By accepting a delegation of any duty or power from a foundation's directors, an agent shall be subject to the personal jurisdiction of the courts of this state regarding any matter involving the foundation.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1010 - Voting.

564-F:10-1010 Voting. –
(a) Unless the governing documents provides otherwise, each director shall have one vote on each matter on which the directors may vote.
(b) Unless the governing documents provide otherwise, each matter on which the directors may vote shall be decided by vote of a majority of the directors.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1011 - Meetings.

564-F:10-1011 Meetings. –
(a) The governing documents may set forth provisions relating to:
(1) Notice of the time, place, or purpose of any meeting at which any matter is to be voted on by any directors or class of directors;
(2) Waiver of any notice of a meeting;
(3) Action by vote without a meeting;
(4) Quorum requirements;
(5) Voting in person or by proxy; or
(6) Any other matter with respect to the exercise of a right to vote.
(b) Unless the governing documents provide otherwise, any meeting of the directors may be held by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other.
(c) Participation in a meeting under subsection (b) shall constitute presence in person at the meeting.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:10-1012 - Actions by Consent.

564-F:10-1012 Actions by Consent. –
Unless the governing documents provide otherwise, the directors may take any vote without a meeting and without prior notice if the vote is recorded in a writing setting forth the action so taken and is signed by all of the directors.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:11-1101 - Duty to Manage the Foundation in Good Faith.

564-F:11-1101 Duty to Manage the Foundation in Good Faith. –
A director has a duty to manage the foundation and its property in good faith, in accordance with the terms of the governing documents, and in accordance with this chapter.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:11-1102 - Duty of Loyalty.

564-F:11-1102 Duty of Loyalty. –
(a) Unless the governing documents provide otherwise, a director has a duty to manage the foundation and its property solely in the interests of the foundation's purposes and the beneficiaries' interests.
(b) A transaction not concerning the foundation or its property in which a director engages in the director's personal capacity or a person affiliated, related, or similarly associated with the director engages does not violate the director's duty under subsection (a) to the extent that:
(1) The director discloses the transaction to the other directors reasonably in advance of the transaction; and
(2) The transaction is fair to the foundation.
(c) A transaction not concerning the foundation or its property in which a director engages in the director's personal capacity involves a conflict between personal and fiduciary interests if the transaction concerns an opportunity properly belonging to the foundation.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:11-1103 - Duty of Impartiality.

564-F:11-1103 Duty of Impartiality. –
Unless the governing documents provide otherwise, if a foundation has two or more beneficiaries, then a director has a duty to act impartially in managing the foundation, its affairs, and its property, giving due regard to the foundation's purposes and the beneficiaries' interests.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:11-1104 - Duty of Prudent Management.

564-F:11-1104 Duty of Prudent Management. –
(a) Unless the governing documents provide otherwise, a director has a duty to manage the foundation, its affairs, and its property as a prudent person would manage the foundation, its affairs, and its property.
(b) In satisfying the standard under subsection (a), a director shall:
(1) Exercise reasonable care and skill; and
(2) Consider the factors that are relevant under the circumstances, including:
(A) The foundation's purposes;
(B) The beneficiaries' interests; and
(C) The foundation's distributional requirements.
(c) In managing the foundation, its affairs, and its property, a director may incur only costs that are reasonable in relation to the foundation's property, the foundation's purposes, and the director's skills.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:11-1105 - Duty to Control and Protect Foundation Property.

564-F:11-1105 Duty to Control and Protect Foundation Property. –
(a) Unless the governing documents provide otherwise, a director has a duty to take reasonable steps to control and protect the foundation's property.
(b) Under subsection (a), a director's duty includes:
(1) Enforcing the claims of the foundation;
(2) Defending claims against the foundation; and
(3) Redressing a breach of duty that the director knows to have been committed by a foundation official or a former foundation official.
(c) A director has a duty to keep a foundation's property separate from the director's property.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:11-1106 - Duty to Maintain Records.

564-F:11-1106 Duty to Maintain Records. –
Unless the governing documents provide otherwise, a director shall keep adequate records of the foundation, the management of its property, and the management of its affairs.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:11-1107 - Duty to Inform.

564-F:11-1107 Duty to Inform. –
Unless the governing documents provide otherwise, a director has a duty to keep each qualified beneficiary reasonably informed about the foundation, the management of the foundation's affairs and property, and all material facts necessary for the beneficiary to protect the beneficiary's interests.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:11-1108 - Director's Skills.

564-F:11-1108 Director's Skills. –
(a) Unless the governing documents provide otherwise, a director who has special skills or expertise shall use those special skills or expertise.
(b) Unless the governing documents provide otherwise, a director who is appointed as a director in reliance upon the director's representation that he, she, or it has special skills or expertise shall use those special skills or expertise.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1201 - Protectors.

564-F:12-1201 Protectors. –
(a) A foundation may have one or more protectors.
(b) A protector shall have any duties and powers set forth in the governing documents.
(c) Unless the governing documents provide otherwise, a protector shall have the power to commence a judicial proceeding for the purposes of:
(1) Protecting the foundation's purposes; or
(2) Enforcing the provisions of the governing documents.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1202 - Qualifications.

564-F:12-1202 Qualifications. –
(a) The governing documents may prescribe qualifications for protectors.
(b) Unless the governing documents provide otherwise, a protector may be:
(1) An individual or an entity; and
(2) A resident of any jurisdiction and need not be a resident of this state.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1203 - Number.

564-F:12-1203 Number. –
(a) Unless the governing documents provide otherwise, a foundation may have one or more protectors.
(b) The number of protectors may be increased or decreased:
(1) In accordance with the provisions of the governing documents governing the method for increasing or decreasing the number of protectors; or
(2) By an amendment of the governing documents.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1204 - Classes.

564-F:12-1204 Classes. –
(a) A foundation may have one or more classes of protectors.
(b) Each class of protectors shall have the duties and powers assigned to that class under the governing documents.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1205 - Appointment and Term.

564-F:12-1205 Appointment and Term. –
(a) The initial protectors may be appointed by:
(1) The organizers; or
(2) The founder.
(b) After the appointment of the initial protectors, any additional or successor protector shall be appointed:
(1) In accordance with the provisions of the governing documents governing the appointment of protectors; or
(2) If the governing documents do not contain any provision for the appointment of protectors, by:
(A) The protectors; or
(B) The court.
(c) Unless the certificate of formation or bylaws provide otherwise, the duration of a protector's term shall be indefinite and shall terminate only upon:
(1) The protector's resignation or removal;
(2) In the case of protector who is an individual, the protector's incapacity or death; or
(3) In the case of a protector that is an entity, the protector's dissolution.
Source.
2017, 257:47, eff. Oct. 1, 2017. 2018, 210:7, eff. June 8, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1206 - Resignation.

564-F:12-1206 Resignation. –
(a) Unless the governing documents provide otherwise, a protector may resign at any time by delivering written notice of the resignation to:
(1) Each of the other protectors; and
(2) The persons who have the power to appoint a successor protector.
(b) A protector's resignation is effective upon the delivery of the notice of resignation, unless that notice specifies a later effective date or an effective date determined upon the happening of an event or events.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1207 - Removal.

564-F:12-1207 Removal. –
(a) A protector may be removed in accordance with the governing documents.
(b) The court may remove a protector if:
(1) The protector has committed a serious breach of duty;
(2) Lack of cooperation among the protectors substantially impairs the performance of the protector's duties or the management of the foundation's affairs;
(3) Because of unfitness, unwillingness, persistent failure of the protector to manage the foundation effectively, the court determines that removal of the protector best serves the foundation's purposes and the beneficiaries' interests; or
(4) The court finds that:
(A) There has been a substantial change of circumstances or all of the beneficiaries request the removal;
(B) The protector's removal best serves the foundation's purposes and the beneficiaries' interests;
(C) The protector's removal is not inconsistent with any of the foundation's material purpose; and
(D) One or more suitable persons are continuing to serve as protectors or a suitable successor protector is available.
(c) For purposes of subsection (b)(4)(C), the removal of a person whom the founder personally appointed as a protector is presumptively inconsistent with one of the foundation's material purposes, but that presumption may be rebutted by a preponderance of the evidence.
Source.
2017, 257:47, eff. Oct. 1, 2017. 2018, 210:8, eff. June 8, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1208 - Committees.

564-F:12-1208 Committees. –
(a) Unless the governing documents provide otherwise, the protectors may:
(1) Establish one or more committees;
(2) Appoint one or more protectors as members of a committee;
(3) Remove one or more members of a committee; and
(4) Terminate any committee.
(b) To the extent specified by the protectors or in the governing documents, each committee may exercise the powers of the protectors.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1209 - Delegation.

564-F:12-1209 Delegation. –
(a) Unless the governing documents provide otherwise, the protectors may delegate to any one or more persons any duty or power that prudent protectors of comparable skills and having the same power or duty could properly delegate under the circumstances.
(b) The protectors may delegate a duty or power to a person who is associated or affiliated with any of the protectors to the extent permitted under RSA 564-F:13-1302.
(c) In delegating to an agent, the protectors shall exercise reasonable care, skill, and caution in:
(1) Selecting an agent;
(2) Establishing the scope and terms of the delegation, consistent with the foundation's purposes and the beneficiaries' interests; and
(3) Periodically reviewing the agent's actions for the purpose of monitoring the agent's performance and compliance with the scope and terms of the delegation.
(d) To the extent that the protectors comply with subsections (a) and (c), the protectors are not liable to the foundation or the beneficiaries for an act or omission of the agent to whom the power or duty was delegated.
(e) A protector's delegation of a power or duty to an agent under a power of attorney shall not be valid unless the power of attorney expressly refers to the protector in his, her, or its capacity as a protector of the foundation.
(f) In the case of a protector who is an individual, the protector's delegation of any power or duty to an agent under a power of attorney shall terminate upon the protector's incapacity unless:
(1) The governing documents provide that the delegation may remain effective during the protector's incapacity; and
(2) The power of attorney provide that the delegation does not terminate upon the protector's incapacity.
(g) In performing a delegated duty or power, an agent owes to the foundation a duty to exercise reasonable care to comply with the terms of the delegation.
(h) By accepting a delegation of any duty or power from a foundation's protectors, an agent shall be subject to the personal jurisdiction of the courts of this state regarding any matter involving the foundation.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1210 - Voting.

564-F:12-1210 Voting. –
(a) Unless the governing documents provide otherwise, each protector shall have one vote on each matter on which the protectors may vote.
(b) Unless the governing documents provide otherwise, each matter on which the protectors may vote shall be decided by vote of a majority of the protectors.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1211 - Meetings.

564-F:12-1211 Meetings. –
(a) The governing documents may set forth provisions relating to:
(1) Notice of the time, place, or purpose of any meeting at which any matter is to be voted on by any protectors or class of protectors;
(2) Waiver of any notice of a meeting;
(3) Action by vote without a meeting;
(4) Quorum requirements;
(5) Voting in person or by proxy; or
(6) Any other matter with respect to the exercise of a right to vote.
(b) Unless the governing documents provide otherwise, any meeting of the protectors may be held by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other.
(c) Participation in a meeting under subsection (b) shall constitute presence in person at the meeting.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:12-1212 - Actions by Consent.

564-F:12-1212 Actions by Consent. –
Unless the governing documents provide otherwise, the protectors may take any vote without a meeting and without prior notice if the vote is recorded in a writing setting forth the action so taken and is signed by all of the protectors.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:13-1301 - Duty to Act in Good Faith.

564-F:13-1301 Duty to Act in Good Faith. –
A protector has a duty to act in good faith, in accordance with the provisions of the governing documents, and in accordance with this chapter.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:13-1302 - Duty of Loyalty.

564-F:13-1302 Duty of Loyalty. –
(a) Unless the governing documents provide otherwise, a protector has a duty to exercise his, her, or its powers solely in the interests of the foundation's purposes and the beneficiaries' interests.
(b) Unless the governing documents provide otherwise, a transaction not concerning the foundation or its property in which a protector engages in the protector's personal capacity or a person affiliated, related, or similarly associated with the protector engages does not violate the protector's duty under subsection (a) to the extent that:
(1) The protector discloses the transaction to the other protectors reasonably in advance of the transaction; and
(2) The transaction is fair to the foundation.
(c) A transaction not concerning a foundation's property in which a protector engages in the protector's personal capacity involves a conflict between personal and fiduciary interests if the transaction concerns an opportunity properly belonging to the foundation.
Source.
2017, 257:47, eff. Oct. 1, 2017. 2018, 210:9, eff. June 8, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:13-1303 - Duty of Impartiality.

564-F:13-1303 Duty of Impartiality. –
Unless the governing documents provide otherwise, if a foundation has two or more beneficiaries, then the protector has a duty to act impartially in exercising his, her, or its powers, giving due regard to the foundation's purposes and the beneficiaries' interests.
Source.
2017, 257:47, eff. Oct. 1, 2017. 2018, 210:10, eff. June 8, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:13-1304 - Duty to Maintain Records.

564-F:13-1304 Duty to Maintain Records. –
Unless the governing documents provide otherwise, a protector shall keep adequate records of the protector's acts as a protector.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:13-1305 - Protector's Skills.

564-F:13-1305 Protector's Skills. –
(a) Unless the governing documents provide otherwise, a protector who has special skills or expertise shall use those special skills or expertise.
(b) Unless the governing documents provide otherwise, a protector who is appointed as a protector in reliance upon the protector's representation that he, she, or it has special skills or expertise shall use those special skills or expertise.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:14-1401 - Nature of Beneficial Interests.

564-F:14-1401 Nature of Beneficial Interests. –
(a) Subject to subsection (b), a beneficiary's interest is a mere expectancy and is not a property interest or an enforceable right.
(b) A beneficiary's interest is a property interest to the extent that:
(1) The beneficiary has a currently exercisable power to appoint the foundation's property to himself, herself, or itself without the consent of any other person; or
(2) The directors have failed to make a distribution to the beneficiary in accordance with a provision of the governing documents requiring the directors to make that distribution.
(c) For the purposes of determining a beneficiary's interest, the founder's intent as expressed in the terms of the governing documents shall be paramount.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:14-1403 - Return of Improper Distributions.

564-F:14-1403 Return of Improper Distributions. –
A person who receives a distribution from a foundation is liable to return the distribution to the extent that a court subsequently determines that the person was not entitled to the distribution.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › 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 any of the foundation officials, including any judicial proceeding:
(A) Contesting the validity of the foundation's formation;
(B) Contesting the validity of a contribution by a founder to the foundation;
(C) Contesting the validity of the foundation's governing documents;
(D) Seeking to set aside any provision of the governing documents;
(E) Seeking to void any action by the foundation officials; or
(F) Seeking to dissolve the foundation; or
(2) Any act that frustrates or defeats the founder's intent as expressed in the terms of the governing documents.
(b) Subject to subsections (c) and (d), a no-contest provision shall be enforceable in accordance with its express terms regardless of whether:
(1) The beneficiary acted in good faith or with probable cause; or
(2) The enforcement of the no-contest provision would result in a partial or complete forfeiture of the beneficiary's interest.
(c) A no-contest provision shall be unenforceable to the extent that:
(1) The court dissolves the foundation under RSA 564-F:20-2013(a); or
(2) A judicial proceeding only involved a claim against a foundation official for a breach of duty, and the foundation official committed a breach of duty.
(d) A no-contest provision shall be unenforceable to the extent that a beneficiary initiates, maintains, or cooperates in:
(1) Any judicial proceeding initiated by a foundation official;
(2) Any nonjudicial settlement agreement or other agreement among the beneficiaries and any other interested persons in settlement of a dispute or resolution of any other matter relating to the foundation;
(3) Any judicial proceeding for the interpretation or construction of a provision of the governing instrument, including the interpretation or construction of the no-contest provision with respect to any proposed or pending petition or motion; or
(4) To the extent that the foundation is a charitable trust, any judicial proceeding brought by the director of charitable trusts for the interpretation or construction of the foundation's governing documents.
Source.
2017, 257:47, eff. Oct. 1, 2017. 2018, 210:14, eff. June 8, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › 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 beneficiary shall not be personally liable for any of the foundation's debts, obligations, and liabilities solely by reason of being a founder, foundation official, or beneficiary.
(c) A founder, foundation official, or beneficiary may agree to be personally liable for any or all of the foundation's debts, obligations, and liabilities.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › 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) The foundation property shall not be subject to any forced heirship, legitime, forced share, or any similar heirship rights against a founder, a founder's estate, or any of a founder's property under the laws of any jurisdiction.
Source.
2017, 257:47, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:15-1503 - Rights of a Beneficiary's Creditors and Assignees.

564-F:15-1503 Rights of a Beneficiary's Creditors and Assignees. –
(a) Subject to subsection (c), a court may authorize a beneficiary's creditor or assignee to reach the beneficiary's interest by attachment of present or future distributions to or for the benefit of the beneficiary.
(1) Attachment of distributions is the creditor's or assignee's exclusive remedy against the beneficiary's interest.
(2) The court may limit the relief under this subsection (a) as the court deems appropriate under the circumstances.
(b) Subject to subsection (c), a beneficiary's creditor or assignee may not compel the foundation to make a distribution to the beneficiary.
(c) A beneficiary's creditor or assignee may reach the beneficiary's interest to the extent that:
(1) Without the consent of any other person, the beneficiary has the power to appoint the foundation's property to:
(A) The beneficiary; or
(B) The beneficiary's creditors or assignees; or
(2) Upon the foundation's dissolution, the beneficiary would receive the foundation's property and, without the consent of any other person, the beneficiary has the power to dissolve the foundation or cause the foundation's dissolution.
(d) A beneficiary's creditor or assignee may not compel a beneficiary to exercise any right or power that, in any fiduciary or nonfiduciary capacity, the beneficiary has under the governing documents, including any of the following:
(1) Any power of appointment;
(2) Any power to dissolve the foundation or cause the foundation's dissolution;
(3) Any power to direct or veto a distribution;
(4) Any power to appoint or remove a foundation official; or
(5) Any right to receive reports, notices, or other information concerning the foundation and its administration.
(e) A beneficiary's interest shall not be assignable, except to the extent expressly permitted by the governing documents.
(f) A beneficiary's interest shall not be subject to any forced heirship, legitime, forced share, or any similar heirship rights under the laws of any jurisdiction.
Source.
2017, 257:47, eff. Oct. 1, 2017. 2018, 210:15, eff. June 8, 2018.
2023 New Hampshire Revised Statutes › Title LVI - Probate Courts and Decedents' Estates › Chapter 564-F - New Hampshire Foundation Act › Section 564-F:16-1601 - Role of Court in a Foundation's Affairs.

564-F:16-1601 Role of Court in a Foundation's Affairs. –
(a) The court may intervene in a foundation's affairs to the extent its jurisdiction is invoked by an interested person or as provided by law.
(b) A foundation shall not be subject to continuing judicial supervision unless ordered by the court.
(c) A judicial proceeding involving a foundation may relate to any matter involving the foundation's affairs, including:
(1) A request for instruction;
(2) Construction of the governing documents;
(3) A claim for breach of duty; or
(4) A request to declare rights.
(d) Each of the following persons may commence a judicial proceeding for the purpose of enforcing the provisions of the governing documents:
(1) A founder;
(2) A foundation official;
(3) A beneficiary; or
(4) In the case of a foundation that is a charitable trust, the director of charitable trusts.
Source.
2017, 257:47, eff. Oct. 1, 2017.