Founder

(1) A person who establishes a foundation, or on whose behalf a foundation is established, or who makes any disposition of property to a foundation is a founder. A foundation may have more than one founder. (2) A founder shall not serve as protector of the foundation that he established or to which he disposed property. (3) A founder may be a beneficiary, including the sole beneficiary, of a foundation that he establishes. (4) A founder shall not retain, possess or acquire the power to direct a foundation council in respect of the administration of a foundation, nor shall a founder retain, possess or acquire any International Foundations [CAP. 24:02 43 control, power or dominion over the endowment of a foundation that he establishes or to which he disposes property. (5) A founder shall not retain, possess or acquire the power to dissolve a foundation or amend a foundation charter. (6) In the case of a foreign foundation, a founder means a person who establishes a foundation, or on whose behalf a foundation is established, or who makes any disposition of property to a foundation in the jurisdiction of the foreign