North Dakota Code 59-16.3-08 – Administration of total return unitrust authority – Authority of trustee
Current as of: 2023 | Check for updates
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The trustee, in administering a total return unitrust, may determine:
Terms Used In North Dakota Code 59-16.3-08
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Trustee: A person or institution holding and administering property in trust.
1. The effective date of the conversion; 2. The timing of distributions; 3. Whether distributions are to be made in cash, in kind, or partly in cash and partly in kind; 4. Which assets are to be excluded in determining the unitrust amount; 5. If the trust is reconverted to an income trust, the effective date of the reconversion; and 6. Any other administrative issues as may be necessary or appropriate to carry out the purposes of this chapter.