Section 564-F:16-1606 - Nonjudicial Settlement Agreement(a) For purposes of this section, "interested person" means each of the following persons: (2) A foundation official;(3) A person who, under the governing documents, has the power to enforce the terms of the governing documents; (4) If the trust is a charitable trust, the director of charitable trusts; and(5) Any other person whose consent would be required in order to achieve a binding settlement if a court would approve the settlement.(b) Subject to subsection (c), all of the interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a foundation.(c) A nonjudicial settlement agreement is valid only to the extent that: (1) It does not violate any of the foundation's material purpose; and(2) It includes only terms and conditions that could be properly approved by a court under this chapter or other applicable law.(d) Matters that may be resolved by a nonjudicial settlement agreement include: (1) The interpretation or construction of the governing documents;(2) The modification of the governing documents;(3) The approval of a director's report or accounting;(4) A direction to a foundation official to refrain from performing a particular act or the grant to a foundation official of any necessary or desirable power;(5) A foundation official's appointment or resignation;(6) The determination of a foundation official's compensation;(7) A foundation official's liability for an action relating to the foundation; and(8) The foundation's dissolution.(e) Any interested person may commence a judicial proceeding requesting that the court: (1) Approve a nonjudicial settlement agreement;(2) Determine whether the representation under 564-F:14-1402 was adequate; and(3) Determine whether the agreement contains terms and conditions the court could have properly approved.Amended by 2018, 210:16, eff. 6/8/2018.Added by 2017, 257:47, eff. 10/1/2017. 2017, 257:47, eff. Oct. 1, 2017. 2018, 210:16, eff. June 8, 2018.