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Current as of January 01, 2024 | Updated by Findlaw Staff
As used in this chapter, unless the context otherwise requires:
1. “Individual with a disability” means an individual who, before creation of a third-party special needs trust or a self-settled special needs trust for that individual's benefit, is considered to be an individual with a disability as defined in 42 U.S.C. 1382c(a)(3).
2. “Self-settled special needs trust” means a trust created by an individual with a disability after August 10, 1993, which qualifies under 42 U.S.C. 1396p(d)(4).
3. “Third-party special needs trust” means a trust that does not make an individual with a disability ineligible for publicly funded benefits while maintaining assets in that trust and which is created for the benefit of an individual with a disability and funded by someone other than the trust beneficiary, the beneficiary's spouse, a parent of a minor beneficiary, or anyone obligated to pay any sum for damages or any other purpose to or for the benefit of the trust beneficiary under the terms of a settlement agreement or judgment.
Cite this article: FindLaw.com - North Dakota Century Code Title 59. Trusts § 59-08-01. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-59-trusts/nd-cent-code-sect-59-08-01/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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