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North Dakota Statutes, Title 59

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Title 59, Trusts

28 chapters · 197 sections in this title.

All chapters in Title 59197 Ch 59-04.2, Uniform Principal and Income Act (1997)29 Ch 59-12, Creation, Validity, Modification, an…18 Ch 59-16.1, Trust Decanting17 Ch 59-16, Duties and Powers of Trustee16 Ch 59-09, General Provisions and Definitions14 Ch 59-22, Uniform Electronic Estate Planning D…14 Ch 59-16.3, Total Return Unitrusts14 Ch 59-18, Trustee Liability and Dealings13 Ch 59-15, Office of Trustee9 Ch 59-21, Uniform Prudent Management of Instit…8 Ch 59-16.2, Directed Trustees8 Ch 59-13, Creditor's Claims - Spendthrift and …7 Ch 59-17, Prudent Investor Standards6 Ch 59-08, Trusts for Individuals with Disabilities5

8 sections·Filtered byTitle 59✕Ch 59-21✕

N.D.C.C. § 59-21-01 Definitions
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In this chapter: 1. "Charitable purpose" means the relief of poverty, the advancement of education, the advancement of religion, the promotion of health, or any other purpose the achievement of which is beneficial to the community. 2. "Endowment fund" means an institutional fund …
N.D.C.C. § 59-21-02 Standard of conduct in managing and investing institutional fund
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1. Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purposes of the institutional fund. 2. In addition to complying with the duty of …
N.D.C.C. § 59-21-03 Appropriation for expenditure or accumulation of endowment fund - Rules of construction
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1. Subject to the intent of a donor, as expressed in the gift instrument and subject to subsection 4, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration …
N.D.C.C. § 59-21-04 Management and investment functions - Delegation
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1. Except as otherwise provided in a gift instrument or by law other than this chapter, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An i…

N.D.C.C. § 59-21-05 Release or modification of restrictions on management, investment, or purpose

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1. If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpos…

N.D.C.C. § 59-21-06 Compliance - Determination

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Compliance with this chapter is determined in light of the facts and circumstances existing at the time a decision is made or at the time action is taken, and not by hindsight.

N.D.C.C. § 59-21-07 Application to existing institutional funds

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This chapter applies to institutional funds existing on or established after April 22, 2009. As applied to institutional funds existing on April 22, 2009, this chapter governs only decisions made or actions taken on or after that date.

N.D.C.C. § 59-21-08 Relation to Electronic Signatures in Global and National Commerce Act

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This chapter modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act [15 U.S.C. 7001 et seq.] but does not modify, limit, or supersede 15 U.S.C. 7001(a) or authorize electronic delivery of any of the notices described in 15 U.S.C. 7003(b).