36C-8B-3. Scope.
(a) Except as otherwise provided in this section, this Article applies to an express trust that is irrevocable or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest.
(b) This Article shall not apply to a trust held solely for charitable purposes as described in G.S. 36C-4-405(a).
(c) Subject to G.S. 36C-8B-15, a trust instrument may restrict or prohibit exercise of the decanting power.
(d) This Article shall not limit the power of a trustee, power holder, or other person to distribute or appoint property in further trust or to modify a trust under the trust instrument, law of this State other than this Article, common law, a court order, or a nonjudicial settlement agreement.
(e) This Article shall not affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument. (2017-121, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 36C - North Carolina Uniform Trust Code
Article 8B - North Carolina Uniform Trust Decanting Act.
§ 36C-8B-5 - Application; governing law.
§ 36C-8B-6 - Reasonable reliance.
§ 36C-8B-7 - Notice; exercise of decanting power.
§ 36C-8B-9 - Court involvement.
§ 36C-8B-11 - Decanting power.
§ 36C-8B-13 - Trust for beneficiary with disability.
§ 36C-8B-15 - Trust limitation on decanting.
§ 36C-8B-16 - Change in compensation.
§ 36C-8B-17 - Relief from liability and indemnification.
§ 36C-8B-18 - Removal or replacement of authorized fiduciary.
§ 36C-8B-19 - Tax-related limitations.
§ 36C-8B-20 - Duration of second trust.
§ 36C-8B-21 - Need to distribute not required.
§ 36C-8B-22 - Saving provision.