§ 59-18-02 — (1002) Damages for breach of trust

North Dakota § 59-18-02

• Jurisdiction: North Dakota
• Title 59: Trusts, Uses, and Powers
• Ch. 59-18: Trustee Liability and Dealings

Text

1. A trustee who commits a breach of trust is liable to the beneficiaries affected for the
greater of the amount required to restore the value of the trust property and trust
distributions to what they would have been had the breach not occurred or the profit
the trustee made by reason of the breach.
2. Except as otherwise provided in this subsection, if more than one trustee is liable to
the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other
trustee or trustees. A trustee is not entitled to contribution if the trustee was
substantially more at fault than another trustee or if the trustee committed the breach
of trust in bad faith or with reckless indifference to the purposes of the trust or the
interests of the beneficiaries. A trustee who received a benefit from the breach of trust
is not entitled to contribution from another trustee to the extent of the benefit received.