Title 59, Trusts
28 chapters · 197 sections in this title.
N.D.C.C. § 59-16.2-01 Consistency with power of attorney provisions
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The provisions of this chapter relating to power of attorney are subject to other provisions of law.
N.D.C.C. § 59-16.2-02 Definitions
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For purposes of this chapter, unless the context otherwise requires: 1. "Directing party" means an investment trust advisor, distribution trust advisor, or trust protector as provided in this chapter. 2. "Distribution trust advisor" means one or more persons given authority by th…
N.D.C.C. § 59-16.2-03 Designation and powers of investment trust advisor
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1. An investment trust advisor may be designated in the governing instrument of a trust. The powers of an investment trust advisor may be exercised or not exercised in the sole and absolute discretion of the investment trust advisor, and are binding on all other persons, includin…
N.D.C.C. § 59-16.2-04 Designation and powers of distribution trust advisor
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1. A distribution trust advisor may be designated in the governing instrument of a trust. The powers of a distribution trust advisor may be exercised or not exercised in the sole and absolute discretion of the distribution trust advisor, and are binding on all other persons, incl…
N.D.C.C. § 59-16.2-05 Designation and powers of trust protector
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1. A trust protector may be designated in the governing instrument of a trust. 2. The powers of a trust protector may be exercised or not exercised in the sole and absolute discretion of the trust protector, and are binding on all other persons, including a beneficiary, an invest…
N.D.C.C. § 59-16.2-06 Duty and liability of directing party
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1. A directing party is a fiduciary of the trust subject to the same duties and standards applicable to a trustee of a trust as provided by applicable law unless the governing instrument provides otherwise. However, the governing instrument may not relieve or exonerate a directin…
N.D.C.C. § 59-16.2-07 Duty and liability of excluded fiduciary
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1. The excluded fiduciary shall act in accordance with the governing instrument and comply with the directing party's exercise of the powers granted to the directing party by the governing instrument. 2. Unless otherwise provided in the governing instrument, an excluded fiduciary…
N.D.C.C. § 59-16.2-08 Application
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This chapter applies to: 1. Existing and future trusts that appoint or provide for a directing party including a party granted power or authority effectively comparable in substance to that of a directing party as provided in this chapter; or 2. An existing or future trusts that:…