Title 59 — Trusts

Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its purposes and in accordance with chapters 59-09, 59-10, 59-11, 59-12, 59-13, 59-14, 59-15, 59-16, 59-17, 59-18, and 59-19.

1. A trustee shall administer the trust solely in the interests of the beneficiaries. 2. Subject to the rights of persons dealing with or assisting the trustee as provided in section 59-18-12, a sale, encumbrance, or other transaction involving the investment or management of tru…

If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries' respective interests.

A trustee shall administer the trust as a prudent person would by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.

In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee.

A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, shall use those special skills or expertise.

1. A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in selecting an agent; establishing the scope and terms of the delegation, consi…

Repealed by S.L. 2017, ch. 416, § 11.

A trustee shall take reasonable steps to take control of and protect the trust property.

1. A trustee shall keep adequate records of the administration of the trust. 2. A trustee shall keep trust property separate from the trustee's own property. 3. Except as otherwise provided in subsection 4, a trustee, other than a trustee granted trust or fiduciary powers from a …

A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust.

A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee and to redress a breach of trust known to the trustee to have been committed by a former trustee or other fiduciary.

1. Subject to section 59-14-03, while a trust is revocable or to the extent that trust property in an irrevocable trust is subject to a power of withdrawal, or to the extent that the qualified beneficiary of an irrevocable trust is then unknown because a person holds a power to c…

1. Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as absolute, sole, or uncontrolled, the trustee shall exercise a discretionary power in good faith and in accordance with the purposes of the trust. 2. Sub…

A trustee, without authorization by the court, may exercise powers conferred by the terms of the trust and, except as limited by the terms of the trust, all powers over the trust property which an unmarried owner, who is not an incapacitated person, has over individually owned pr…

Without limiting the authority conferred by section 59-16-15, a trustee may: 1. Collect trust property and accept or reject additions to the trust property from a settlor or any other person. 2. Acquire or sell property, for cash or on credit, at public or private sale. 3. Exchan…

1. Upon termination or partial termination of a trust, the trustee may send to the beneficiaries, and the attorney general in the case of a charitable trust, a proposal for distribution. The right of any beneficiary, or the attorney general in the case of a charitable trust, to o…