North Dakota Century Code Title 6. Banks and Banking § 6-05-15.1. Corporate trustee--Investment of trust funds--Commingling funds

Any trust company may invest all moneys received by it in authorized securities, and shall be responsible to the owner or beneficiary of a trust for the validity, regularity, quality, value, and genuineness of these investments and securities so made, and for the safekeeping of the securities and evidences thereof.  When special directions are given in any order, judgment, decree, will, or other written instrument as to the particular manner or the particular class or kind of securities or property in which any investment must be made, it shall follow such directions, and in such case it is not further responsible by reason of the performance of such trust.  In all other cases it may invest funds held in any trust capacity in authorized securities using its best judgment in the selection thereof, and shall be responsible for the validity, regularity, quality, and value thereof at the time made, and for their safekeeping.  Whether it be the sole trustee or one of two or more cotrustees, it may invest in fractional parts of, as well as in whole, securities, or may commingle funds for investment.  If it invests in fractional parts of securities or commingles funds for investment, all of the fractional parts of such securities, or the whole of the funds so commingled must be owned and held by the trust company in its several trust capacities, and it is liable for the administration thereof in all respects as though separately invested.  Funds so commingled for investment must be designated collectively as a common trust fund.  It may, in its discretion, retain and continue any investment and security or securities coming into its possession in any fiduciary capacity.  The foregoing applies as well whether a corporation trustee is acting alone or with an individual cotrustee.