§ 564-f-11-1105

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. Source. 2017, 257:47, eff. Oct. 1, 2017.