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N.H. Rev. Stat. Ann. § 564-F:18-1808

Exculpation of a Foundation Official

Known as the New Hampshire Foundation Act

The act spans §§ 564-F:10-1001 to 564-F:9-901 (134 sections).

Source. 2017, 257:47, eff

(a) Subject to subsection (b), a provision of the governing documents relieving a foundation official of liability for breach of duty is enforceable except to the extent that the provision relieves the foundation official of liability for a breach of duty for:

(1) Failing to act in good faith; or

(2) Acting with reckless indifference to the foundation's purposes or the beneficiaries' interests.

(b) A provision of the governing documents relieving a foundation official of liability for breach of duty is unenforceable if the provision was inserted as the result of an abuse by the foundation official of a fiduciary or confidential relationship to the founder.

Official source: New Hampshire General Court. Reproduced from public-domain New Hampshire statutes; confirm against the official source for the current text. Not legal advice.