The directors of any such corporation have discretionary power to invest all moneys received by it on deposit or in trust, and the investment or deposit of which otherwise may not be limited or directed, in such securities as are herein authorized. The corporation is responsible to the owners or beneficiaries of such moneys, for the validity, regularity, quality, value, and genuineness of all such investments and securities at the time said investments are so made, and for the safekeeping of the evidences and securities thereof. If any special direction, limitation, agreement, or trust is imposed, made or conferred in and by the order, judgment, decree, will, contract, deed, conveyance, or other written instrument, as to the particular manner, or the particular class or kinds of securities, funds, or property, whether real or personal, in which the moneys must be invested, the corporation shall follow and carry out such order, judgment, decree, contract, deed, or other written instrument or instruction, and may not be held liable or responsible for any loss, damage, or injury which may occur to or be incurred by any person or beneficiary by reason of its proper performance of such trust, and the directions or limitations thereof.
6-05-11. Bond not required - Power to be surety on judicial bonds - Deposit of securities. No bond or other security, oath, or other qualification is necessary to enable such corporation to accept any appointment or trust. It is lawful for any such corporation to become surety upon any bond or undertaking for or on behalf of any person, persons, or corporation, in any suit, action, or special proceeding, in any court in this state. Whenever a bond or new sureties on a bond may be required from any person, persons, or corporation, acting in any trust capacity whatever, if the value of the estate or fund is so great that the judge of the court having jurisdiction of the proceedings deems it inexpedient to require security in the full amount prescribed by law, the judge may direct that any securities for the payment of moneys belonging to the estate or fund be deposited, subject to the order of the person acting in such trust capacity, countersigned by a judge of said court, with any trust company organized and qualified to do business under the provisions of this chapter. After such deposit has been made, the judge may fix the amount of the bond with respect to the value of the remainder only of such estate or fund.