Section 564-F:20-2013 - Judicial Dissolution(a) A court may dissolve a foundation if: (1) The foundation procured its certificate of formation through fraud, duress, or undue influence;(2) The foundation's purposes are not lawful or are contrary to the public policy of this state; (3) The foundation has exceeded or abused its lawful authority under this chapter;(4) The foundation has carried on, conducted, or transacted its affairs in a persistently fraudulent or illegal manner; or (5) The foundation has abused its power contrary to the public policy of this state.(b) A court may dissolve a foundation if: (1) All of the foundation officials consent to the termination;(2) All of the beneficiaries consent to the termination;(3) To the extent that the foundation is a charitable trust, the director of charitable trusts consents to the dissolution; and(4) The dissolution does not violate any of the foundation's material purposes. (c) A court may dissolve a foundation if: (1) Because of circumstances that the founder did not anticipate, the dissolution will further the foundation's purposes; and(2) The dissolution does not violate any of the foundation's material purposes. (d) Any of the following persons may commence a judicial proceeding seeking the foundation's dissolution under this section: (1) A foundation official;(2) A beneficiary unless the governing documents prohibit the beneficiary from commencing a judicial proceeding seeking the foundation's dissolution; (3) To the extent that the foundation is a charitable trust, the director of charitable trusts; and (4) With respect to a dissolution under subsection (a), the attorney general.Added by 2017, 257:47, eff. 10/1/2017. 2017, 257:47, eff. Oct. 1, 2017.