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North Dakota Century Code Title 47. Property § 47-24.1-06. Other transfer by fiduciary

Current as of January 01, 2024 | Updated by FindLaw Staff

1. Subject to subsection 3, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to section 47-24.1-09, in the absence of a will or under a will or trust that does not contain an authorization to do so.

2. Subject to subsection 3, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to section 47-24.1-09.

3. A transfer under subsection 1 or 2 may be made only if:

a. The personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor;

b. The transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument; and

c. The transfer is authorized by the court if it exceeds ten thousand dollars in value.

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Cite this article: FindLaw.com - North Dakota Century Code Title 47. Property § 47-24.1-06. Other transfer by fiduciary - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-47-property/nd-cent-code-sect-47-24-1-06/

Read this complete North Dakota Century Code Title 47. Property § 47-24.1-06. Other transfer by fiduciary on Westlaw

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