53-163.6. Court accountings.
Unless ordered by a court of competent jurisdiction the trust institution operating such common trust fund or funds shall not be required to render a court accounting with regard to such fund or funds; but it may, by application to the superior court, secure approval of such an accounting on such conditions as the court may establish. This section shall not affect the duties of the trustees of the participating trusts under the common trust fund to render accounts of their several trusts. (1939, c. 200, s. 2; 1977, c. 502, s. 2; 2005-192, s. 1; 2011-339, s. 7.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 53 - Regulation of Financial Services
Article 14 - Trust Institutions Acting in a Fiduciary Capacity.
§ 53-159 - Trust institution may act as fiduciary.
§ 53-159.1 - Power of fiduciary or custodian to deposit securities in a clearing corporation.
§ 53-160 - License to do business.
§ 53-161 - Examination in connection with license as to solvency.
§ 53-163 - Clerk of superior court notified of license and revocation.
§ 53-163.1 - Funds held by a trust institution awaiting investment or distribution.
§ 53-163.2 - Investments in securities by trust institutions.
§ 53-163.3 - Fiduciary funds awaiting investment.
§ 53-163.5 - Establishment of common trust funds.
§ 53-163.6 - Court accountings.
§ 53-163.7 - Supervision by State Banking Commission.