Current as of January 01, 2020 | Updated by FindLaw Staff
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1. A distribution trust advisor may be designated in the governing instrument of a trust. The powers of a distribution trust advisor may be exercised or not exercised in the sole and absolute discretion of the distribution trust advisor, and are binding on all other persons, including each beneficiary, each fiduciary, each excluded fiduciary, and any other person having an interest in the trust.
2. The governing instrument may use the title “distribution trust advisor” or a similar name or description demonstrating the intent to provide for the office and function of a distribution trust advisor.
3. Unless the terms of the governing instrument provide otherwise, the distribution trust advisor may direct the trustee with regard to all decisions relating directly or indirectly to discretionary distributions to or for one or more beneficiaries.
Cite this article: FindLaw.com - North Dakota Century Code Title 59. Trusts § 59-16.2-04. Designation and powers of distribution trust advisor - last updated January 01, 2020 | https://codes.findlaw.com/nd/title-59-trusts/nd-cent-code-sect-59-16-2-04/
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