59-16.3-08. Administration of total return unitrust authority - Authority of trustee.
89 words·~1 min read·
/nd/title-59/chapter-59-16-3-total-return-unitrusts/59-16-3-08·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The trustee, in administering a total return unitrust, may determine:
1. The effective date of the conversion;
2. The timing of distributions;
3. Whether distributions are to be made in cash, in kind, or partly in cash and partly in
kind;
4. Which assets are to be excluded in determining the unitrust amount;
5. If the trust is reconverted to an income trust, the effective date of the reconversion;
and
6. Any other administrative issues as may be necessary or appropriate to carry out the
purposes of this chapter.