Section 564-F:20-2005 - Effect of Dissolution(a) A dissolved foundation continues its existence as a legal entity but may not engage in any activities except to the extent necessary or appropriate to wind up its affairs, including: (1) Collecting its property;(2) Disposing of its property that will not be distributed in kind to its beneficiaries or in furtherance of its purposes;(3) Discharging or making provision for discharging its liabilities; and(4) Distributing its remaining property to its beneficiaries or in furtherance of its purposes in accordance with the governing documents.(b) A foundation's dissolution does not: (1) Transfer title to the foundation's property;(2) Subject its directors to duties different from those prescribed in article 11;(3) Subject its protectors to duties different from those prescribed in article 13;(4) Change the provisions for appointment, resignation, or removal of the foundation officials;(5) Change the provisions for amending its governing documents;(6) Prevent commencement of a judicial proceeding by or against the foundation in the foundation's name;(7) Abate or suspend a judicial proceeding pending by or against the foundation on the dissolution's effective date; or(8) Terminate the authority of the foundation's registered agent.Added by 2017, 257:47, eff. 10/1/2017. 2017, 257:47, eff. Oct. 1, 2017.