Current through Chapter 381 of the 2024 Legislative Session
Section 564-F:11-1105 - Duty to Control and Protect Foundation Property(a) Unless the governing documents provide otherwise, a director has a duty to take reasonable steps to control and protect the foundation's property.(b) Under subsection (a), a director's duty includes: (1) Enforcing the claims of the foundation;(2) Defending claims against the foundation; and(3) Redressing a breach of duty that the director knows to have been committed by a foundation official or a former foundation official.(c) A director has a duty to keep a foundation's property separate from the director's property.Added by 2017, 257:47, eff. 10/1/2017. 2017, 257:47, eff. Oct. 1, 2017.