§ 59-18-01 (1001) Remedies for breach of trust
§ 59-18-01.1 Presumption against trustee
§ 59-18-02 (1002) Damages for breach of trust
§ 59-18-03 (1003) Damages in absence of breach
§ 59-18-04
§ 59-18-05 (1005) Limitation of action against trustee
§ 59-18-06 (1006) Reliance on trust instrument
§ 59-18-07 (1007) Event affecting administration or distribution
§ 59-18-08 (1008) Exculpation of trustee
§ 59-18-09 (1009) Beneficiary’s consent, release, or ratification
§ 59-18-10 (1010) Limitation on personal liability of trustee
§ 59-18-11 (1011) Interest as general partner
§ 59-18-12 (1012) Protection of person dealing with trustee
§ 59-18-13 (1013) Certification of trust
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Terms Used In North Dakota Code > Chapter 59-18 - Trustee Liability and Dealings

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiduciary: A trustee, executor, or administrator.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Partnership: includes a limited liability partnership registered under chapter 45-22. See North Dakota Code 1-01-49
  • Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: A person or institution holding and administering property in trust.
  • written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37
  • year: means twelve consecutive months. See North Dakota Code 1-01-33