New Hampshire § 304-C:109 Business Judgment Rule

New Hampshire Statutes

§ 304-C:109 — Business Judgment Rule

New Hampshire § 304-C:109

Title XXVIIIPARTNERSHIPS

Ch. 304-CLIMITED LIABILITY COMPANIES

SubdivisionFiduciary Duties and Related Matters

This text of New Hampshire § 304-C:109 (Business Judgment Rule) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 304-C:109 (2026).

Text

I. Unless the operating agreement provides otherwise, there shall be a rebuttable presumption that a manager has not breached the manager's duty of care if, in the matter in question, the manager has acted:

(a)In accordance with contractual good faith;

(b)In a manner the manager reasonably believed to be in the best interest of the limited liability company; and

(c)On the basis of reasonably adequate information. II. As used in this act, the phrase "contractual good faith" means good faith within the meaning of the implied contractual covenant of good faith and fair dealing as partially defined in RSA 304-C:111, II.

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I. Unless the operating agreement provides otherwise, there shall be a rebuttable presumption that a manager has not breached the manager's duty of care if, in the matter in question, the manager has acted:
(a) In accordance with contractual good faith;
(b) In a manner the manager reasonably believed to be in the best interest of the limited liability company; and
(c) On the basis of reasonably adequate information.
II. As used in this act, the phrase "contractual good faith" means good faith within the meaning of the implied contractual covenant of good faith and fair dealing as partially defined in RSA 304-C:111, II.