Sections 10-06.1-12, 10-06.1-15, 10-06.1-15.2, 10-06.1-17, 10-06.1-17.1, and 10-06.1-18 do not apply to nonprofit organizations or to corporations or limited liability companies such as banks, trust companies, or foundations serving in a fiduciary capacity as the personal representative or trustee of an estate or trust for an individual described in subsection 2 of section 10-06.1-12.

Terms Used In North Dakota Code 10-06.1-19

  • Fiduciary: A trustee, executor, or administrator.
  • Individual: means a human being. See North Dakota Code 1-01-49
  • Trustee: A person or institution holding and administering property in trust.