New Hampshire § 564-F:11-1104 Duty of Prudent Management

New Hampshire Statutes

§ 564-F:11-1104 — Duty of Prudent Management

New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 564-F NEW HAMPSHIRE FOUNDATION ACT·Subdivision ARTICLE 11Directors' Duties

(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.

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(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.

New Hampshire § 564-F:11-1104 (Duty of Prudent Management) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.