North Dakota Statutes
§ 59-18-12 — (1012) Protection of person dealing with trustee
1.A person other than a beneficiary who in good faith assists a trustee, or who in good
faith and for value deals with a trustee, without knowledge that the trustee is
exceeding or improperly exercising the trustee's powers, is protected from liability as if
the trustee properly exercised the power.
2.A person other than a beneficiary who in good faith deals with a trustee is not required
to inquire into the extent of the trustee's powers or the propriety of their exercise.
3.A person who in good faith delivers assets to a trustee need not ensure their proper
application.
4.A person other than a beneficiary who in good faith assists a former trustee, or who in
good faith and for value deals with a former trustee, without knowledge that the
trusteeship has terminated, is protected from
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North Dakota § 59-18-12 ((1012) Protection of person dealing with trustee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Alerus Financial, N.A. v. Western State Bank
2008 ND 104 (North Dakota Supreme Court, 2008)
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