N.D. Cent. Code § 38-13.1-03

38-13.1-03. Administration of trust

Year: 2026Length: 135 wordsOfficial source
38-13.1-03. Administration of trust The administration of the trust must comply with the appropriate provisions regulating trusts contained in title 59. Except as provided in this section, trustee or attorney's fees may not be paid from the trust proceeds. All bonuses, rental payments, royalties, and other income must be paid to the trustee until the trust is terminated and notice of its termination is given to all interested parties. The trustee shall distribute all moneys held in the trust to the person entitled to the money upon the order of the district court. A trust in favor of unlocatable owners must be kept in force until the unlocatable owners of the mineral interests in question have successfully claimed their share of the funds held in trust and have filed the notice as provided in section
N.D. Cent. Code § 38-13.1-03: 38-13.1-03. Administration of trust | Justis AI