N.D. Cent. Code § 59-04.2-12: (404) Principal receipts

A trustee shall allocate to principal:

1.To the extent not allocated to income under this chapter, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest, or a payer under a contract naming the trust or its trustee as beneficiary.

2.Money or other property received from the sale, exchange, liquidation, or change in form of a principal asset, including realized profit, subject to sections 59-04.2-09 through 59-04.2-23.

3.Amounts recovered from third parties to reimburse the trust because of disbursements described in subdivision g of subsection 1 of section 59-04.2-25 or for other reasons to the extent not based on the loss of income.

4.Proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect to an accounting period during which a current income beneficiary had a mandatory income interest is income.

5.Net income received in an accounting period during which there is no beneficiary to whom a trustee may or must distribute income.

6.Other receipts as provided in sections 59-04.2-16 through 59-04.2-23.