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N.D. Cent. Code § 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.

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.