Section 55-1-58 – Confidentiality of registration.
55-1-58. Confidentiality of registration. The registration shall be sealed and kept confidential except as provided below. The settlor, a trustee, trust advisor, or trust protector may obtain a certified copy of the registration but no other person or entity, absent a court order, may view or obtain a copy of the trust registration. The registration […]
Section 55-1-59 – Trust registration form.
55-1-59. Trust registration form. The trust registration form may be substantially similar to the following form: State of Court Dakota _______________ Judicial Circuit County of _______________________________ Trust Registration No. _______________ REGISTRATION OF TRUST Name of Trust: ______________________________________________________________________________ Name & Address of Trustee: ______________________________________________________________________________ Name & Address of Co-Trustees: ______________________________________________________________________________ Names and Address of any trust […]
Section 55-1-48 – Circumstances under which no contest clause unenforceable.
55-1-48. Circumstances under which no contest clause unenforceable. A no contest clause is not enforceable against a beneficiary to the extent the beneficiary, in good faith and based upon probable cause, contests a provision that benefits any of the following persons: (1)A person who drafted or transcribed the instrument; (2)A person who gave directions to […]
Section 55-1-49 – Contest regarding settlor’s signature.
55-1-49. Contest regarding settlor’s signature. Notwithstanding anything to the contrary in §§55-1-46 to 55-1-51, inclusive, a no contest clause is enforceable against a beneficiary to the extent the beneficiary elects to contest or otherwise challenge the settlor’s signature whereby such a challenge does not in any manner constitute good, probable, or reasonable cause if the […]
Section 55-1-50 – Attorneys fees and costs.
55-1-50. Attorneys fees and costs. The court may award attorneys fees and costs to the prevailing party in an action involving the enforceability of a no contest provision. Source: SL 2012, ch 233, §12.
Section 55-1-51 – Applicability of §§ 55-1-46 to 55-1-50.
55-1-51. Applicability of §§55-1-46 to 55-1-50. Sections 55-1-46 to 55-1-50, inclusive, are effective for all trusts in existence on, created, amended, or restated after July 1, 2012. Source: SL 2012, ch 233, §13; SL 2013, ch 239, §12.
Section 55-1-52 – Interest on general pecuniary devises.
55-1-52. Interest on general pecuniary devises. General pecuniary devises bear interest at the Category B rate of interest as provided in §54-3-16 beginning one year after the event requiring a distribution until payment, unless a contrary intent is indicated by the terms of the trust. Source: SL 2013, ch 239, §15.
Section 55-1-53 – Expansion, restriction, elimination, or variance of provisions of general application.
55-1-53. Expansion, restriction, elimination, or variance of provisions of general application. The terms of a governing instrument may expand, restrict, eliminate, or otherwise vary any provisions of general application to trusts and trust administration. Nothing in this section allows the terms of the governing instrument to expand, restrict, eliminate, or otherwise vary the duties, restrictions, […]
Section 55-1-54 – Arbitration.
55-1-54. Arbitration. In addition to the trustee’s power to submit to an arbitration claim in favor of or against a trust or trustee as set forth in §55-1A-25, a provision in a trust requiring the arbitration of a dispute between or among the beneficiaries, a fiduciary under the will or trust, or any combination of […]
Section 55-1-55 – Trust enforceable although not funded or without res, corpus, or assets.
55-1-55. Trust enforceable although not funded or without res, corpus, or assets. A trust is valid and enforceable even though it may not be funded at a given time, or from time to time, or does not initially have any res or corpus or otherwise contain any asset of any nature. A trust is valid […]