§ 564-F:10-1009 — Delegation

New Hampshire § 564-F:10-1009

• Jurisdiction: New Hampshire
• Title LVI: PROBATE COURTS AND DECEDENTS' ESTATES
• Ch. 564-F: NEW HAMPSHIRE FOUNDATION ACT
• Subdivision: ARTICLE 10Directors

Text

(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.

Legislative History

2017, 257:47, eff. Oct. 1, 2017.