Title 59 — Trusts
28 chapters · 193 sections in this title.
N.D.C.C. § 59-17-01 Prudent investor rule
0.5K chars
1. Except as otherwise provided in subsection 2, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in sections 59-16-02, 59-16-03, 59-16-05, 59-16-06, and 59-16-07 and in this chapter. 2…
N.D.C.C. § 59-17-02 Standard of care - Portfolio strategy - Risk and return objectives
1.7K chars
1. A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. 2. A tr…
N.D.C.C. § 59-17-03 Diversification
0.2K chars
A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying.
N.D.C.C. § 59-17-04 Duties at inception of trusteeship
0.4K chars
Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, …
N.D.C.C. § 59-17-05 Reviewing compliance
0.2K chars
Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee's decision or action and not by hindsight.
N.D.C.C. § 59-17-06 Language invoking standard
0.7K chars
The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this chapter: investments permissible by law for investment of trust funds, legal investments, authorized investmen…