N.D. Cent. Code § 6-05-15

6-05-15. Investment of trust funds

Any sum of money, which is collected or received by any such corporation in its trust

capacity, and which is not required for the purposes of the trust, or which is not to be accounted

for within one year from the date of collection, receipt, or deposit, must be invested by the

corporation as soon as practicable.

In acquiring, investing, reinvesting, exchanging, retaining, selling, and managing the

property for the benefit of another, the trustee shall exercise the judgment and care under the

circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise

in the management of their own affairs, not in regard to speculation but in regard to the

permanent disposition of their funds, considering the probable income as well as the probable

safety of their capital. Within the limitations of the foregoing standard, the trustee is authorized

to acquire and retain every kind of property, real, personal, or mixed, and every kind of

investment, specifically including but not by way of limitation, bonds, debentures, and other

corporate obligations and stocks, preferred or common, including investment trusts, mutual

funds, money market funds, and other similar funds in which the trustee or any of its affiliates

may have a beneficial interest, which persons of prudence, discretion, and intelligence acquire

or retain for their own account, and within the limitations of the foregoing standard, the trustee

may retain property properly acquired without limitation as to time and without regard to its

suitability for original purchase. The net interest and profits of such investments, less the

reasonable charges and disbursements of the corporation in connection therewith, must be

accounted for and paid over as a part of the trust. The net accumulations of interest and profits

likewise must be invested and reinvested as a part of the principal, and such investments must

be received and allowed in the settlement of the trust.