PROBATE COURTS AND DECEDENTS' ESTATES
NEW HAMPSHIRE FOUNDATION ACT
(a) Unless the governing documents provide otherwise, the protectors may delegate to any one or more persons any duty or power that prudent protectors of comparable skills and having the same power or duty could properly delegate under the circumstances.
(b) The protectors may delegate a duty or power to a person who is associated or affiliated with any of the protectors to the extent permitted under RSA 564-F:13-1302.
(c) In delegating to an agent, the protectors shall exercise reasonable care, skill, and caution in:
(1) Selecting an agent;
(2) Establishing the scope and terms of the delegation, consistent with the foundation's purposes and the beneficiaries' interests; and
(3) Periodically reviewing the agent's actions for the purpose of monitoring the agent's performance and compliance with the scope and terms of the delegation.
(d) To the extent that the protectors comply with subsections (a) and (c), the protectors are not liable to the foundation or the beneficiaries for an act or omission of the agent to whom the power or duty was delegated.
(e) A protector's delegation of a power or duty to an agent under a power of attorney shall not be valid unless the power of attorney expressly refers to the protector in his, her, or its capacity as a protector of the foundation.
(f) In the case of a protector who is an individual, the protector's delegation of any power or duty to an agent under a power of attorney shall terminate upon the protector's incapacity unless:
(1) The governing documents provide that the delegation may remain effective during the protector's incapacity; and
(2) The power of attorney provide that the delegation does not terminate upon the protector's incapacity.
(g) In performing a delegated duty or power, an agent owes to the foundation a duty to exercise reasonable care to comply with the terms of the delegation.
(h) By accepting a delegation of any duty or power from a foundation's protectors, an agent shall be subject to the personal jurisdiction of the courts of this state regarding any matter involving the foundation.
Source. 2017, 257:47, eff. Oct. 1, 2017.