2016 North Dakota Century Code Title 47 Property Chapter 47-03 Accumulations of Property
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CHAPTER 47-03
ACCUMULATIONS OF PROPERTY
47-03-01. Income defined.
The income of property, as the term is used in this title, includes the rents and profits of real
property, the interest of money, dividends upon stock, and other produce of personal property.
47-03-02. Income from future interests - Dispositions.
Dispositions of the income of property to accrue and to be received at any time subsequent
to the execution of the instrument creating such dispositions are governed by the rules
prescribed in this title in relation to future interests.
47-03-03. Undisposed income - Persons entitled to future interest.
When, in consequence of a valid limitation of a future interest, there is a suspension of the
power of alienation or of the ownership, during the continuation of which the income is
undisposed of, and no valid direction for its accumulation is given, such income belongs to the
persons presumptively entitled to the next eventual interest.
47-03-04. Accumulation of income - How directed.
Repealed by S.L. 1959, ch. 330, § 1.
47-03-05. Accumulation beyond minority of beneficiaries - Direction void.
Repealed by S.L. 1959, ch. 330, § 1.
47-03-06. Allowance to minor from accumulations.
When a minor for whose benefit an accumulation has been directed is destitute of other
sufficient means of support and education, the district court, upon application, may direct a
suitable sum to be applied thereto out of the fund.
47-03-07. Illegal accumulation.
Repealed by S.L. 1961, ch. 297, § 1.
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