§ 59-12-09 — (409) Noncharitable trust without ascertainable beneficiary

North Dakota § 59-12-09

• Jurisdiction: North Dakota
• Title 59: Trusts, Uses, and Powers
• Ch. 59-12: Creation, Validity, Modification, and Termination of Trust

Text

Except as otherwise provided in section 59-12-08 or by another statute, the following rules
apply:
1. A trust may be created for a noncharitable purpose without a definite or definitely
ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be
selected by the trustee.
2. A trust authorized by this section may be enforced by a person appointed in the terms
of the trust or, if no person is so appointed, by a person appointed by the court.
3. Property of a trust authorized by this section may be applied only to its intended use,
except to the extent the court determines that the value of the trust property exceeds
the amount required for the intended use. Except as otherwise provided in the terms of
the trust, property not required for the intended use must be distributed to the settlor, if
then living, otherwise to the settlor's successors in interest.