North Dakota § 59-15-09 (709) Reimbursement of expenses

North Dakota Statutes

§ 59-15-09 — (709) Reimbursement of expenses

North Dakota·Title 59 Trusts, Uses, and Powers·Ch. 59-15 Office of Trustee

1.A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for expenses that were properly incurred in the administration of the trust and, to the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.

2.An advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest. The lien under this subsection does not apply to a common or collective fund that is exempt under 26 U.S.C. 584.

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1. A trustee is entitled to be reimbursed out of the trust property, with interest as
appropriate, for expenses that were properly incurred in the administration of the trust
and, to the extent necessary to prevent unjust enrichment of the trust, expenses that
were not properly incurred in the administration of the trust.
2. An advance by the trustee of money for the protection of the trust gives rise to a lien
against trust property to secure reimbursement with reasonable interest. The lien
under this subsection does not apply to a common or collective fund that is exempt
under 26 U.S.C. 584.

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