North Dakota § 59-15-01 (701) Accepting or declining trusteeship

North Dakota Statutes

§ 59-15-01 — (701) Accepting or declining trusteeship

North Dakota § 59-15-01

Title 59Trusts, Uses, and Powers

Ch. 59-15Office of Trustee

This text of North Dakota § 59-15-01 ((701) Accepting or declining trusteeship) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 59-15-01 (2026).

Text

1.Except as otherwise provided in subsection 3, a person designated as trustee accepts the trusteeship by substantially complying with a method of acceptance provided in the terms of the trust or, if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.

2.A person designated as trustee who has not yet accepted the trusteeship may decline the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have declined the trusteeship.

3.A person designated as trustee, without accepting the trusteeship,

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1. Except as otherwise provided in subsection 3, a person designated as trustee accepts
the trusteeship by substantially complying with a method of acceptance provided in the
terms of the trust or, if the terms of the trust do not provide a method or the method
provided in the terms is not expressly made exclusive, by accepting delivery of the
trust property, exercising powers or performing duties as trustee, or otherwise
indicating acceptance of the trusteeship.
2. A person designated as trustee who has not yet accepted the trusteeship may decline
the trusteeship. A designated trustee who does not accept the trusteeship within a
reasonable time after knowing of the designation is deemed to have declined the
trusteeship.
3. A person designated as trustee, without accepting the trusteeship, may act to preserve
the trust property if, within a reasonable time after acting, the person sends a
declination of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to
a qualified beneficiary and inspect or investigate trust property to determine potential
liability under environmental or other law or for any other purpose.