Title 55 — FIDUCIARIES AND TRUSTS

Source: SL 2017, ch 208 , § 22.

Source: SL 2017, ch 208 , § 8.

Terms used in this chapter mean: (1) "Bind" or "bound," to consent, receive notice or service of process, approve, agree, object, resist, waive, or demand for or as a person with the same binding and conclusive effect as if the person represented had; (2) "Conflict of interest," …

In a judicial proceeding, the petitioner shall set forth information with respect to each representative, each person the representative represents, and the authority by which each representative acts under this chapter. In a nonjudicial proceeding, the notifier shall set forth i…

Any representative may decline to act as a representative as to the matter in question by timely expressing the representative's refusal to the notifier. A notifier may specify a time of not less than three days in which the representative may decline to act as a representative. …

A representative may petition the court for an order approving the representative's actions prior to or in advance of the representative's action, upon such notice as the court may order. Source: SL 2017, ch 208 , § 12.

A representative with a conflict of interest with respect to the matter in question may bind the person that the representative represents notwithstanding any cause of action that the represented person may have against a representative who acts knowingly. Source: SL 2017, ch 208…

If a representative knows that the representative has a conflict of interest with respect to the matter in question, the representative shall timely disclose the nature of the conflict of interest: (1) In a judicial proceeding to the interested parties and the court; or (2) Other…

Unless notice of a conflict of interest has been carried out pursuant to § 55-18-14 , if the notifier knows that a representative has a conflict of interest with respect to the matter in question, the notifier shall timely disclose the nature of the conflict of interest: (1) In a…

In a judicial proceeding, if the court has been notified of a representative's conflict of interest or potential conflict of interest, the court may find that the representative conflict of interest or potential conflict of interest is immaterial in view of the facts and circumst…

A representative may make a decision with broad discretion and no representative is liable for an action or omission unless the representative: (1) Acts dishonestly; (2) Acts with an improper motive; or (3) Fails, if under a duty to do so, to act. A representative may represent a…

A representative is entitled to reasonable compensation as determined by the trustee except as otherwise provided in the governing instrument. Source: SL 2017, ch 208 , § 18.

In a judicial proceeding, if the court determines that a person cannot be adequately represented by a representative, the court may order that the person be provided notice or may order the appointment of a court representative or a replacement court representative to bind the pe…

Notwithstanding the provisions of § 15-6-17(c), the provisions of this chapter apply to any proceeding involving any person interested in a trust. Source: SL 2017, ch 208 , § 1.

A settlor may be represented by a representative in amending, terminating, or revoking an inter vivos revocable trust only when the representative is: (1) An agent under a written power of attorney when the settlor is incapacitated or not reasonably available and to the extent ex…

Without diminishing the powers of a trustee over the affairs of the trust or trust property, a trustee may not bind a beneficiary of the trustee's trust except as provided in subdivisions 55-18-9(5), (9), (11), and (16). Source: SL 2017, ch 208 , § 21; SL 2019, ch 209 , § 10.

Nothing in this chapter, permits the unauthorized practice of law or diminishes the provisions of §

A governing instrument may require additional notification or consent than otherwise required by law. Unless expressly authorized by the governing instrument, a person designated by a governing instrument to represent another person or class of persons may not represent such pers…

With regard to a testamentary trust proceeding governed by title 29A, in the event of any conflict between this chapter, and chapter 29A-1 , the provisions of this chapter, shall prevail. Source: SL 2017, ch 208 , § 24.

No notifier is liable for undertaking any additional notification or seeking additional consent than required by law or the governing instrument. Source: SL 2017, ch 208 , § 25.

No fiduciary is liable for reliance on the outcome or resolution of any proceeding conducted under this chapter, unless the fiduciary knowingly disregarded the lack of a representative's authority to act with regard to the matter in question. Source: SL 2017, ch 208 , § 26.

In any proceeding: (1) Any notice, governing instrument, accounting, report, or other information which is provided to a representative has the same effect as if the same was given to the person represented; (2) The consent of a representative has the same effect as if the person…

Notwithstanding the provisions of § 55-18-3 , no representative may bind the person represented if, prior to the representative binding the person in the matter in question: (1) The court finds that the person cannot be adequately represented pursuant to § 55-18-19 ; (2) The repr…

Neither notice nor service of process on, nor consent to, any matter in any proceeding is required from: (1) An unborn individual; (2) An unascertained person; (3) The potential appointee of a power of appointment; (4) The potential taker in default of a general power of appointm…

When notice is made on, or consent obtained from, co-representatives, notice on, or consent from, all acting co-representatives is required except when the terms of the co-representatives' authority provide that the co-representatives may act independently or by other means. Howe…

Following the commencement of a judicial proceeding, if a beneficiary timely files a demand for notice with the court, notice shall be given to the beneficiary unless otherwise ordered by the court. Source: SL 2017, ch 208 , § 7; SL 2018, ch 275 , § 33.

The Department of Social Services shall be provided with notice in any proceeding in which an interested beneficiary of a trust may owe a debt to the department pursuant to §

Persons who may bind others are as follows: (1) Except as provided in subdivision 55-18-20(2), a conservator may bind a minor or protected person; (2) A guardian may bind the minor or protected person if no conservator of the minor or protected person has been appointed; (3) A pa…