33B-8. General powers of custodial trustee.
(a) A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.
(b) This section does not relieve a custodial trustee from liability for a violation of G.S. 33B-7. (1995, c. 486, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 33B - North Carolina Uniform Custodial Trust Act
§ 33B-2 - Custodial trust; general.
§ 33B-3 - Custodial trust to begin in the future.
§ 33B-4 - Form and effect of receipt and acceptance by custodial trustee; jurisdiction.
§ 33B-5 - Transfer to custodial trustee by fiduciary or obligor; facility of payment.
§ 33B-6 - Single beneficiaries; separate custodial trusts.
§ 33B-7 - General duties of custodial trustee.
§ 33B-8 - General powers of custodial trustee.
§ 33B-9 - Use of custodial trust property.
§ 33B-10 - Determination of incapacity; effect.
§ 33B-11 - Third-party transactions.
§ 33B-12 - Liability to the third person.
§ 33B-14 - Expenses, compensation, and bond of custodial trustee.
§ 33B-16 - Limitations of action against custodial trustee.
§ 33B-17 - Distribution on termination.
§ 33B-18 - Methods and forms of creating custodial trusts.