North Dakota Statutes
§ 59-21-01 — Definitions
North Dakota·Title 59 Trusts, Uses, and Powers·Ch. 59-21 Uniform Prudent Management of Institutional Funds Act
In this chapter:
1."Charitable purpose" means the relief of poverty, the advancement of education, the
advancement of religion, the promotion of health, or any other purpose the
achievement of which is beneficial to the community.
2."Endowment fund" means an institutional fund or part thereof that, under the terms of
a gift instrument, is not wholly expendable by the institution on a current basis. The
term does not include assets that an institution designates as an endowment fund for
its own use.
3."Gift instrument" means a record, including an institutional solicitation, under which
property is granted to, transferred to, or held by an institution as an institutional fund.
4."Institution" means:
a.A person, other than an individual, organized and operated exclusively for
charitable
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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