North Dakota Statutes
§ 59-12-14 — (414) Modification or termination of uneconomic trust
North Dakota·Title 59 Trusts, Uses, and Powers·Ch. 59-12 Creation, Validity, Modification, and Termination of Trust
1.After notice to the qualified beneficiaries, the trustee of a trust consisting of trust
property having a total value less than one hundred thousand dollars may terminate
the trust if the trustee concludes that the value of the trust property is insufficient to
justify the cost of administration.
2.The court may modify or terminate a trust or remove the trustee and appoint a different
trustee if the court determines that the value of the trust property is insufficient to justify
the cost of administration.
3.Upon termination of a trust under this section, the trustee shall distribute the trust
property in a manner consistent with the purposes of the trust.
4.This section does not apply to an easement for conservation or preservation.
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Nearby Sections
15
§ 59-04.2-01
(102) Definitions§ 59-04.2-02
(103) Fiduciary duties - General principles§ 59-04.2-03
(104) Trustee's power to adjust§ 59-04.2-03.1
Judicial control of discretionary power§ 59-04.2-06
(301) When right to income begins and ends§ 59-04.2-07
(302) Apportionment of receipts and disbursements when decedent dies or income interest begins§ 59-04.2-08
(303) Apportionment when income interest ends§ 59-04.2-09
(401) Character of receipts§ 59-04.2-10
(402) Distribution from trust or estate§ 59-04.2-12
(404) Principal receipts§ 59-04.2-13
(405) Rental property§ 59-04.2-14
(406) Obligation to pay money