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N.H. Rev. Stat. Ann. § 564-F:20-2008

Director Duties

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) 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.

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.