§ 30.1-29-24 — (5-424) Powers of conservator in administration

1. A conservator has all of the powers conferred herein and any additional powers
conferred by law on trustees in this state.
2. A conservator has power, without court authorization or confirmation, to invest and
reinvest funds of the estate as would a trustee.
3. A conservator, acting reasonably in efforts to accomplish the purpose for which the
conservator was appointed, except as provided in section 30.1-29-22, may act without
court authorization or confirmation, to:
a. Collect, hold, and retain assets of the estate, including land in another state, until,
in the conservator's judgment, disposition of the assets should be made, and the
assets may be retained even though they include an asset in which the
conservator is personally interested.
b. Receive additions to the estate.
c. Continue or participate in the operation of any business or other enterprise.
d. Acquire an undivided interest in an estate asset in which the conservator, in any
fiduciary capacity, holds an undivided interest.
e. Invest and reinvest estate assets in accordance with subsection 2.
f. Deposit estate funds in a bank, including a bank operated by the conservator.
g. Acquire or dispose of an estate asset, including land in another state for cash or
on credit, at public or private sale, and to manage, develop, improve, exchange,
partition, change the character of, or abandon an estate asset.
h. Make ordinary or extraordinary repairs or alterations in buildings or other
structures, demolish any improvements, and raze existing or erect new party
walls or buildings.
i. Subdivide, develop, or dedicate land to public use, to make or obtain the vacation
of plats and adjust boundaries, to adjust differences in valuation on exchange or
to partition by giving or receiving considerations, and to dedicate easements to
public use without consideration.
j. Enter for any purpose into a lease as lessor or lessee with or without option to
purchase or renew for a term within or extending beyond the term of the
conservatorship.
k. Enter into a lease or arrangement for exploration and removal of minerals or
other natural resources or enter into a pooling or unitization agreement.
l. Grant an option involving disposition of an estate asset, except the sale of real
property, to take an option for the acquisition of any asset.
m. Vote a security, in person or by general or limited proxy.
n. Pay calls, assessments, and any other sums chargeable or accruing against or
on account of securities.
o. Sell or exercise stock or membership interest, subscription or conversion rights,
to consent, directly or through a committee or other agent, to the reorganization,
consolidation, merger, dissolution, or liquidation of a corporation, limited liability
company, or other business enterprise.
p. Hold a security in the name of a nominee or in other form without disclosure of
the conservatorship so that title to the security may pass by delivery, but the
conservator is liable for any act of the nominee in connection with the stock so
held.
q. Insure the assets of the estate against damage or loss, and the conservator
against liability with respect to third persons.
r. Borrow money to be repaid from estate assets or otherwise, to advance money
for the protection of the estate or the protected person, and for all expenses,

losses, and liability sustained in the administration of the estate or because of the
holding or ownership of any estate assets and the conservator has a lien on the
estate as against the protected person for advances so made.
s. Pay or contest any claim, to settle a claim by or against the estate or the
protected person by compromise, arbitration, or otherwise, and to release, in
whole or in part, any claim belonging to the estate to the extent that the claim is
uncollectible.
t. Pay taxes, assessments, compensation of the conservator, and other expenses
incurred in the collection, care, administration, and protection of the estate.
u. Allocate items of income or expense to either estate income or principal, as
provided by law, including creation of reserves out of income for depreciation,
obsolescence, or amortization, or for depletion in mineral or timber properties.
v. Pay any sum distributable to a protected person or the protected person's
dependent without liability to the conservator, by paying the sum to the distributee
or by paying the sum for the use of the distributee either to the distributee's
guardian or, if none, to a relative or other person with custody of the distributee's
person.
w. Employ persons, including attorneys, auditors, investment advisers, or agents,
even though they are associated with the conservator, to advise or assist the
conservator in the performance of the conservator's administrative duties, to act
upon their recommendation without independent investigation, and instead of
acting personally, to employ one or more agents to perform any act of
administration, whether or not discretionary.
x. Prosecute or defend actions, claims, or proceedings in any jurisdiction for the
protection of estate assets and of the conservator in the performance of the
conservator's duties.
y. Execute and deliver all instruments which will accomplish or facilitate the exercise
of the powers vested in the conservator.