North Dakota § 59-16.3-04 Trustee may petition court - Appointment of disinterested person

North Dakota Statutes

§ 59-16.3-04 — Trustee may petition court - Appointment of disinterested person

North Dakota § 59-16.3-04

Title 59Trusts, Uses, and Powers

Ch. 59-16.3Total Return Unitrusts

This text of North Dakota § 59-16.3-04 (Trustee may petition court - Appointment of disinterested person) 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 § 59-16.3-04 (2026).

Text

If a trustee desires to convert an income trust to a total return unitrust, reconvert a total
return unitrust to an income trust, or change the percentage used to calculate the unitrust
amount and the method used to determine the fair market value of the trust, but does not have
the ability to, or elects not to do it under sections 59-16.3-02 and 59-16.3-03, or if the trustee
receives a written objection within the applicable period, the trustee may petition the court for
such order as the trustee deems appropriate. If there is only one trustee of such trust and the
trustee is an interested trustee, or if there are two or more trustees of such trust and a majority
of them are interested trustees, the court, or on the petition of the trustee or trustees, or any
person interested in the trus

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If a trustee desires to convert an income trust to a total return unitrust, reconvert a total
return unitrust to an income trust, or change the percentage used to calculate the unitrust
amount and the method used to determine the fair market value of the trust, but does not have
the ability to, or elects not to do it under sections 59-16.3-02 and 59-16.3-03, or if the trustee
receives a written objection within the applicable period, the trustee may petition the court for
such order as the trustee deems appropriate. If there is only one trustee of such trust and the
trustee is an interested trustee, or if there are two or more trustees of such trust and a majority
of them are interested trustees, the court, or on the petition of the trustee or trustees, or any
person interested in the trust, may appoint a disinterested person who, acting in a fiduciary
capacity, shall present the information to the court as is necessary to enable the court to make
its determination.