New Hampshire § 564-F:20-2008 Director Duties

New Hampshire Statutes

§ 564-F:20-2008 — Director Duties

New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 564-F NEW HAMPSHIRE FOUNDATION ACT·Subdivision Part AVoluntary Dissolution

(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 RSA 564-F:20-2006 or RSA 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 RSA 564-F:20-2006 or RSA 564-F:20-2007.

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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 RSA 564-F:20-2006 or RSA 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 RSA 564-F:20-2006 or RSA 564-F:20-2007.

New Hampshire § 564-F:20-2008 (Director Duties) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.