(a) Unless the governing documents provide otherwise, a director has a duty to manage the foundation, its affairs, and its property as a prudent person would manage the foundation, its affairs, and its property. (b) In satisfying the standard under subsection (a), a director shall: (1) Exercise reasonable care and skill; and (2) Consider the factors that are relevant under the circumstances, including: (A) The foundation's purposes; (B) The beneficiaries' interests; and (C) The foundation's distributional requirements. (c) In managing the foundation, its affairs, and its property, a director may incur only costs that are reasonable in relation to the foundation's property, the foundation's purposes, and the director's skills.
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