N.D. Cent. Code § 59-16.3-08

Current through 2024 Legislative Session

Section 59-16.3-08 - Administration of total return unitrust authority - Authority of trustee

The trustee, in administering a total return unitrust, may determine:

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.

N.D.C.C. § 59-16.3-08

Added by S.L. 2017, ch. 416 (HB 1228),§ 10, eff. 8/1/2017.