N.D. Cent. Code § 59-16.2-08

Current through 2023 Legislative Sessions

Section 59-16.2-08 - Application

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:

a. Are modified in accordance with applicable law or the terms of the governing instrument to appoint or provide for a directing party; or

b. Are modified to appoint or provide for a directing party, including a party granted power or authority effectively comparable in substance to that of a directing party, in accordance with a court order, or a nonjudicial settlement agreement whether the order or agreement specifies this chapter governs the responsibilities, actions, and liabilities of persons designated as a directing party or excluded fiduciary.

N.D.C.C. § 59-16.2-08

Added by S.L. 2017, ch. 416 (HB 1228),§ 9, eff. 8/1/2017.