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N.D. Cent. Code § 59-16.3-03

Interested trustee's authority over actions enumerated in chapter 59-16.3

If there is not a trustee of the trust other than an interested trustee, the interested trustee, or if two or more persons are acting as trustee and are interested trustees, a majority of those interested trustees, without the approval of a court, may take such action as provided in so long as the trustee appoints a disinterested person who, in its sole discretion, but acting in a fiduciary capacity, determines for the trustee:

1. The percentage to be used to calculate the unitrust amount;

2. The method to be used in determining the fair market value of the trust;

3. Which assets, if any, are to be excluded in determining the unitrust amount; and 4. Complies with subsections 1 through 4 of section 59-16.3-02.

Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.