(103) Fiduciary duties - General principles
N.D. Cent. Code § 59-04.2-02
in effect59-04.2-02. (103) Fiduciary duties - General principles
1. In allocating receipts and disbursements to or between principal and income, and with
respect to any matter within the scope of sections 59-04.2-04 through 59-04.2-08, a
fiduciary:
a. Shall administer a trust or estate in accordance with the terms of the trust or the
will, even if there is a different provision in this chapter.
b. May administer a trust or estate by the exercise of a discretionary power of
administration given to the fiduciary by the terms of the trust or the will, even if the
exercise of the power produces a result different from a result required or
permitted by this chapter.
c. Shall administer a trust or estate in accordance with this chapter if the terms of
the trust or the will do not contain a different provision or do not give the fiduciary
a discretionary power of administration.
d. Shall add a receipt or charge a disbursement to principal to the extent that the
terms of the trust and this chapter do not provide a rule for allocating the receipt
or disbursement to or between principal and income.
2. In exercising a discretionary power of administration regarding a matter within the
scope of this chapter, whether granted by the terms of a trust, a will, or this chapter, a
fiduciary shall administer a trust or estate impartially, based on what is fair and
reasonable to all of the beneficiaries, except to the extent that the terms of the trust or
the will clearly manifest an intention that the fiduciary shall or may favor one or more of
the beneficiaries. A determination in accordance with this chapter is presumed to be
fair and reasonable to all of the beneficiaries.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t59c04-2.pdf#nameddest=59-04p2-02Fetched: 10/16/2026