N.D. Cent. Code ch. 59-16.1 – Trust Decanting | Midpage

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North Dakota Century Code

Chapter 59-16.1

N.D. Cent. Code ch. 59-16.1

Trust Decanting

59-16.1-01Consistency with power of attorney provisions 59-16.1-02Definitions 59-16.1-03Power of appointment 59-16.1-04Authorized trustee with unlimited discretion 59-16.1-05Authorized trustee without unlimited discretion 59-16.1-06Special power of appointment 59-16.1-07Term of appointed trust 59-16.1-08Unlimited discretion governs 59-16.1-09Current need to invade principal 59-16.1-10Fiduciary duty 59-16.1-11Subsequently discovered assets 59-16.1-12Requirements for exercise of power to appoint - Notice 59-16.1-13Rights of trustee 59-16.1-14No duty to exercise a power to invade 59-16.1-15Power clarified 59-16.1-16Prohibitions 59-16.1-17Compensation - Commissions