North Carolina General Statutes
Chapter 36C - North Carolina Uniform Trust Code

§ 36C-1-113 - Construction of certain formula clauses applicable to estates of decedents dying in calendar year 2010. - 36C-1-113. Construction of certain formula clauses applicable to estates of...

§ 36C-1-114 - Insurable interest of trustee. - 36C-1-114. Insurable interest of trustee. (a) As used in this...

Article 2 - Judicial Proceedings.

§ 36C-2-201 - Role of court in administration of trust. - 36C-2-201. Role of court in administration of trust. (a) The...

§ 36C-2-202 - Jurisdiction over trustee and beneficiary. - 36C-2-202. Jurisdiction over trustee and beneficiary. (a) By accepting the...

§ 36C-2-203 - Subject matter jurisdiction. - 36C-2-203. Subject matter jurisdiction. (a) The clerks of superior court...

§ 36C-2-204 - Venue. - 36C-2-204. Venue. In any trust proceeding, whether brought before the...

§ 36C-2-205 - Commencement of proceedings, pleadings, consolidation, and joinder. - 36C-2-205. Commencement of proceedings, pleadings, consolidation, and joinder. (a) Contested...

§ 36C-2-206 - Representation of parties. - 36C-2-206. Representation of parties. (a) Notwithstanding any other applicable rule...

§ 36C-2-207 - Waiver of notice. - 36C-2-207. Waiver of notice. A party, or the representative of...

§ 36C-2-208 - Accounting to clerk. - 36C-2-208. Accounting to clerk. (a) No trustee, including a trustee...

§ 36C-2-209 - Qualification and accounting of trustee of a testamentary trust. - 36C-2-209. Qualification and accounting of trustee of a testamentary trust....

Article 3 - Representation.

§ 36C-3-301 - Representationbasic effect. - 36C-3-301. Representation: basic effect. (a) Notice to a person who...

§ 36C-3-302 - Representation by holder of power of revocation or general power of appointment. - 36C-3-302. Representation by holder of power of revocation or general...

§ 36C-3-303 - Representation by fiduciaries, parents, and other persons. - 36C-3-303. Representation by fiduciaries, parents, and other persons. To the...

§ 36C-3-304 - Representation by person having substantially identical interest. - 36C-3-304. Representation by person having substantially identical interest. Unless otherwise...

§ 36C-3-305 - Appointment of representative; scope of representation. - 36C-3-305. Appointment of representative; scope of representation. (a) If the...

Article 4 - Creation, Validity, Modification, and Termination of Trust.

§ 36C-4-401 - Methods of creating trust. - 36C-4-401. Methods of creating trust. A trust may be created...

§ 36C-4-401.1 - Interest of trustee as beneficiary of life insurance or other death benefit sufficient to support inter vivos or testamentary trust. - 36C-4-401.1. Interest of trustee as beneficiary of life insurance or...

§ 36C-4-401.2 - Creation of trust by a court. - 36C-4-401.2. Creation of trust by a court. A court may...

§ 36C-4-402 - Requirements for creation. - 36C-4-402. Requirements for creation. (a) A trust is created only...

§ 36C-4-403 - Trusts created in other jurisdictions. - 36C-4-403. Trusts created in other jurisdictions. A trust not created...

§ 36C-4-404 - Trust purposes. - 36C-4-404. Trust purposes. A trust may be created only to...

§ 36C-4-405 - Charitable purposes. - 36C-4-405. Charitable purposes. (a) A charitable trust may be created...

§ 36C-4-405.1 - Enforcement of charitable gift or trust. - 36C-4-405.1. Enforcement of charitable gift or trust. (a) The settlor...

§ 36C-4-405.2 - Spending rules applicable to charitable trusts. - 36C-4-405.2. Spending rules applicable to charitable trusts. Subject to the...

§ 36C-4-406 - Creation of trust induced by fraud, duress, or undue influence. - 36C-4-406. Creation of trust induced by fraud, duress, or undue...

§ 36C-4-407 - Evidence of oral trust. - 36C-4-407. Evidence of oral trust. Except as required by a...

§ 36C-4-408 - Trust for care of animal. - 36C-4-408. Trust for care of animal. (a) Subject to this...

§ 36C-4-409 - Noncharitable trust without ascertainable beneficiary. - 36C-4-409. Noncharitable trust without ascertainable beneficiary. Except as otherwise provided...

§ 36C-4-410 - Modification or termination of trust; proceedings for approval or disapproval. - 36C-4-410. Modification or termination of trust; proceedings for approval or...

§ 36C-4-411 - Modification or termination of noncharitable irrevocable trust by consent. - 36C-4-411. Modification or termination of noncharitable irrevocable trust by consent....

§ 36C-4-412 - Modification or termination because of unanticipated circumstances or inability to administer trust effectively. - 36C-4-412. Modification or termination because of unanticipated circumstances or inability...

§ 36C-4-413 - Cy pres. - 36C-4-413. Cy pres. (a) Except as otherwise provided in subsections...

§ 36C-4-414 - Modification or termination of uneconomic trust. - 36C-4-414. Modification or termination of uneconomic trust. (a) After notice...

§ 36C-4-415 - Reformation to correct mistakes. - 36C-4-415. Reformation to correct mistakes. The court may reform the...

§ 36C-4-416 - Modification to achieve settlor's tax objectives. - 36C-4-416. Modification to achieve settlor's tax objectives. To achieve a...

§ 36C-4-417 - Combination and division of trusts. - 36C-4-417. Combination and division of trusts. (a) Unless otherwise provided...

§ 36C-4-418 - Distribution upon termination of trust. - 36C-4-418. Distribution upon termination of trust. Upon termination of a...

§ 36C-4-419 - Effect of inalienable interest on modification or termination. - 36C-4-419. Effect of inalienable interest on modification or termination. The...

Article 4A - Tax Status of Charitable Trusts.

§ 36C-4A-1 - Prohibited transactions. - 36C-4A-1. Prohibited transactions. (a) Notwithstanding any provisions in the laws...

§ 36C-4A-2 - Reformation of charitable remainder trust. - 36C-4A-2. Reformation of charitable remainder trust. If a federal estate...

Article 4B - Charitable Remainder Trust Administration Act.

§ 36C-4B-1 - Short title. - 36C-4B-1. Short title. This Article shall be known as the...

§ 36C-4B-2 - General rule. - 36C-4B-2. General rule. Notwithstanding any provisions in the laws of...

§ 36C-4B-3 - Definitions. - 36C-4B-3. Definitions. The following definitions apply to this Article unless...

§ 36C-4B-4 - Administrative provisions applicable to both charitable remainder annuity trusts and charitable remainder unitrusts. - 36C-4B-4. Administrative provisions applicable to both charitable remainder annuity trusts...

§ 36C-4B-5 - Administrative provisions applicable to charitable remainder trusts only. - 36C-4B-5. Administrative provisions applicable to charitable remainder trusts only. (a)...

§ 36C-4B-6 - Administrative provisions applicable to charitable remainder unitrusts only. - 36C-4B-6. Administrative provisions applicable to charitable remainder unitrusts only. (a)...

§ 36C-4B-7 - Interpretation. - 36C-4B-7. Interpretation. This Article shall be interpreted and construed to...

Article 4C - Judicial Establishment of Validity of a Revocable Trust.

§ 36C-4C-1 - Proceedings for validity of a revocable trust. - 36C-4C-1. Proceedings for validity of a revocable trust. A settlor...

§ 36C-4C-2 - Establishing validity of a revocable trust before death. - 36C-4C-2. Establishing validity of a revocable trust before death. (a)...

§ 36C-4C-3 - Venue. - 36C-4C-3. Venue. The venue for a petition under this Article...

§ 36C-4C-4 - Contents of petition for revocable trust validity. - 36C-4C-4. Contents of petition for revocable trust validity. (a) Petition....

§ 36C-4C-5 - Declaration by court; bar to contesting validity of trust. - 36C-4C-5. Declaration by court; bar to contesting validity of trust....

§ 36C-4C-6 - Confidentiality. - 36C-4C-6. Confidentiality. (a) Following the entry of a judgment, a...

Article 5 - Creditors' Claims; Spendthrift and Discretionary Trusts.

§ 36C-5-501 - Rights of beneficiary's creditor or assignee. - 36C-5-501. Rights of beneficiary's creditor or assignee. (a) Except as...

§ 36C-5-502 - Spendthrift provision. - 36C-5-502. Spendthrift provision. (a) A spendthrift provision is valid only...

§ 36C-5-503 - Exceptions to spendthrift provision. - 36C-5-503. Exceptions to spendthrift provision. (a) As used in this...

§ 36C-5-504 - Discretionary trusts; effect of standard. - 36C-5-504. Discretionary trusts; effect of standard. (a) In this section:...

§ 36C-5-505 - Creditor's claim against settlor. - 36C-5-505. Creditor's claim against settlor. (a) Subject to the other...

§ 36C-5-506 - Overdue distribution. - 36C-5-506. Overdue distribution. (a) In this section, "mandatory distribution" means...

§ 36C-5-507 - Personal obligations of trustee. - 36C-5-507. Personal obligations of trustee. Trust property is not subject...

§ 36C-5-508 - Protective trusts. - 36C-5-508. Protective trusts. Except with respect to an interest retained...

Article 6 - Revocable Trusts.

§ 36C-6-601 - Capacity of settlor of revocable trust. - 36C-6-601. Capacity of settlor of revocable trust. The capacity required...

§ 36C-6-602 - Revocation or amendment of revocable trust. - 36C-6-602. Revocation or amendment of revocable trust. (a) Unless the...

§ 36C-6-602.1 - Exercise of settlor's powers with respect to revocable trust by agent or guardian. - 36C-6-602.1. Exercise of settlor's powers with respect to revocable trust...

§ 36C-6-603 - Settlor's control of revocable trust. - 36C-6-603. Settlor's control of revocable trust. (a) While a trust...

§ 36C-6-604 - Limitation on action contesting validity of revocable trust; distribution of trust property. - 36C-6-604. Limitation on action contesting validity of revocable trust; distribution...

§ 36C-6-605 - Failure of disposition of property of a trust by lapse or otherwise. - 36C-6-605. Failure of disposition of property of a trust by...

§ 36C-6-606 - Revocation of provisions in revocable trust by divorce or annulment; revival. - 36C-6-606. Revocation of provisions in revocable trust by divorce or...

§ 36C-6-607 - Modification or termination of a revocable trust. - 36C-6-607. Modification or termination of a revocable trust. (a) A...

Article 7 - Office of Trustee.

§ 36C-7-701 - Accepting or declining trusteeship. - 36C-7-701. Accepting or declining trusteeship. (a) Except as otherwise provided...

§ 36C-7-702 - Trustee's bond. - 36C-7-702. Trustee's bond. (a) A trustee shall provide bond to...

§ 36C-7-703 - Cotrustees. - 36C-7-703. Cotrustees. (a) Cotrustees who are unable to reach a...

§ 36C-7-704 - Vacancy in trusteeship; appointment of successor. - 36C-7-704. Vacancy in trusteeship; appointment of successor. (a) A vacancy...

§ 36C-7-705 - Resignation of trustee. - 36C-7-705. Resignation of trustee. (a) A trustee may resign: (1)...

§ 36C-7-706 - Removal of trustee. - 36C-7-706. Removal of trustee. (a) For the reasons set forth...

§ 36C-7-707 - Delivery of property by former trustee. - 36C-7-707. Delivery of property by former trustee. (a) Unless a...

§ 36C-7-708 - Compensation of trustee. - 36C-7-708. Compensation of trustee. (a) If the terms of a...

§ 36C-7-709 - Reimbursement of expenses. - 36C-7-709. Reimbursement of expenses. A trustee is entitled to be...

Article 8 - Duties and Powers of Trustee.

§ 36C-8-801 - Duty to administer trust. - 36C-8-801. Duty to administer trust. Upon acceptance of a trusteeship,...

§ 36C-8-802 - Duty of loyalty. - 36C-8-802. Duty of loyalty. (a) A trustee shall administer the...

§ 36C-8-803 - Impartiality. - 36C-8-803. Impartiality. If a trust has two or more beneficiaries,...

§ 36C-8-804 - Prudent administration. - 36C-8-804. Prudent administration. A trustee shall administer the trust as...

§ 36C-8-805 - Cost of administration. - 36C-8-805. Cost of administration. In administering a trust, the trustee...

§ 36C-8-806 - Trustee's skills. - 36C-8-806. Trustee's skills. A trustee who has special skills or...

§ 36C-8-807 - Delegation by trustee. - 36C-8-807. Delegation by trustee. (a) A trustee may delegate duties...

§ 36C-8-808 - Powers of a settlor to take certain actions with respect to the trust. - 36C-8-808. Powers of a settlor to take certain actions with...

§ 36C-8-809 - Control and protection of trust property. - 36C-8-809. Control and protection of trust property. A trustee shall...

§ 36C-8-810 - Record keeping and identification of trust property. - 36C-8-810. Record keeping and identification of trust property. (a) A...

§ 36C-8-811 - Enforcement and defense of claims. - 36C-8-811. Enforcement and defense of claims. A trustee shall take...

§ 36C-8-812 - Collecting trust property. - 36C-8-812. Collecting trust property. A trustee shall take reasonable steps...

§ 36C-8-813 - Duty to inform and report. - 36C-8-813. Duty to inform and report. (a) The trustee is...

§ 36C-8-814 - Discretionary powers; tax savings. - 36C-8-814. Discretionary powers; tax savings. (a) Notwithstanding the breadth of...

§ 36C-8-815 - General powers of trustee. - 36C-8-815. General powers of trustee. (a) A trustee, without authorization...

§ 36C-8-816 - Specific powers of trustee. - 36C-8-816. Specific powers of trustee. Without limiting the authority conferred...

§ 36C-8-817 - Distribution upon termination. - 36C-8-817. Distribution upon termination. Upon the occurrence of an event...

§ 36C-8-818 - Notice of deceased Medicaid beneficiaries. - 36C-8-818. Notice of deceased Medicaid beneficiaries. If a trust was...

Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions.

§ 36C-8A-1 - "Power holder" defined. - 36C-8A-1. "Power holder" defined. (a) For purposes of this Article:...

§ 36C-8A-2 - Powers of a power holder. - 36C-8A-2. Powers of a power holder. (a) The terms of...

§ 36C-8A-3 - Duty and liability of power holder. - 36C-8A-3. Duty and liability of power holder. (a) Except as...

§ 36C-8A-4 - Duty and liability of trustee. - 36C-8A-4. Duty and liability of trustee. (a) If the terms...

§ 36C-8A-4.1 - Limitations of actions against power holder for breach of trust. - 36C-8A-4.1. Limitations of actions against power holder for breach of...

§ 36C-8A-4.2 - Defenses in action against power holder. - 36C-8A-4.2. Defenses in action against power holder. In an action...

§ 36C-8A-5 - Compensation and reimbursement of expenses of power holder. - 36C-8A-5. Compensation and reimbursement of expenses of power holder. A...

§ 36C-8A-6 - Jurisdiction over power holder. - 36C-8A-6. Jurisdiction over power holder. (a) By accepting appointment to...

§ 36C-8A-7 - Accepting or declining the appointment as power holder. - 36C-8A-7. Accepting or declining the appointment as power holder. (a)...

§ 36C-8A-8 - Vacancy in the office of the power holder. - 36C-8A-8. Vacancy in the office of the power holder. (a)...

§ 36C-8A-9 - More than one power holder. - 36C-8A-9. More than one power holder. When there is more...

§ 36C-8A-10 - Resignation of power holder. - 36C-8A-10. Resignation of power holder. (a) A power holder may...

§ 36C-8A-11 - Removal of power holder. - 36C-8A-11. Removal of power holder. (a) For the reasons set...

§ 36C-8A-12 - Power holder's bond. - 36C-8A-12. Power holder's bond. (a) A bond shall be required...

Article 8B - North Carolina Uniform Trust Decanting Act.

§ 36C-8B-1 - Short title. - 36C-8B-1. Short title. This Article shall be known and may...

§ 36C-8B-2 - Definitions. - 36C-8B-2. Definitions. The following definitions apply to this Article, unless...

§ 36C-8B-3 - Scope. - 36C-8B-3. Scope. (a) Except as otherwise provided in this section,...

§ 36C-8B-4 - Fiduciary duty. - 36C-8B-4. Fiduciary duty. (a) In exercising the decanting power, an...

§ 36C-8B-5 - Application; governing law. - 36C-8B-5. Application; governing law. This Article shall apply to a...

§ 36C-8B-6 - Reasonable reliance. - 36C-8B-6. Reasonable reliance. A trustee or other person that reasonably...

§ 36C-8B-7 - Notice; exercise of decanting power. - 36C-8B-7. Notice; exercise of decanting power. (a) Except as otherwise...

§ 36C-8B-9 - Court involvement. - 36C-8B-9. Court involvement. (a) An authorized fiduciary, a beneficiary, or...

§ 36C-8B-10 - Formalities. - 36C-8B-10. Formalities. An exercise of the decanting power shall be...

§ 36C-8B-11 - Decanting power. - 36C-8B-11. Decanting power. (a) The following definitions apply to this...

§ 36C-8B-13 - Trust for beneficiary with disability. - 36C-8B-13. Trust for beneficiary with disability. (a) The following definitions...

§ 36C-8B-15 - Trust limitation on decanting. - 36C-8B-15. Trust limitation on decanting. (a) An authorized fiduciary shall...

§ 36C-8B-16 - Change in compensation. - 36C-8B-16. Change in compensation. (a) If a first trust specifies...

§ 36C-8B-17 - Relief from liability and indemnification. - 36C-8B-17. Relief from liability and indemnification. (a) Except as otherwise...

§ 36C-8B-18 - Removal or replacement of authorized fiduciary. - 36C-8B-18. Removal or replacement of authorized fiduciary. An authorized fiduciary...

§ 36C-8B-19 - Tax-related limitations. - 36C-8B-19. Tax-related limitations. (a) The following definitions apply in this...

§ 36C-8B-20 - Duration of second trust. - 36C-8B-20. Duration of second trust. (a) Subject to subsection (b)...

§ 36C-8B-21 - Need to distribute not required. - 36C-8B-21. Need to distribute not required. An authorized fiduciary may...

§ 36C-8B-22 - Saving provision. - 36C-8B-22. Saving provision. (a) If exercise of the decanting power...

§ 36C-8B-24 - Terms of second trust. - 36C-8B-24. Terms of second trust. A reference in this Chapter...

§ 36C-8B-25 - Settlor. - 36C-8B-25. Settlor. (a) For the purposes of the laws of...

§ 36C-8B-26 - Later-discovered property. - 36C-8B-26. Later-discovered property. (a) Except as otherwise provided in subsection...

Article 9 - Uniform Prudent Investor Act.

§ 36C-9-901 - Prudent investor rule; applicability. - 36C-9-901. Prudent investor rule; applicability. (a) Except as otherwise provided...

§ 36C-9-902 - Standard of care; portfolio strategy; risk and return objectives. - 36C-9-902. Standard of care; portfolio strategy; risk and return objectives....

§ 36C-9-903 - Diversification. - 36C-9-903. Diversification. A trustee shall diversify the investments of the...

§ 36C-9-903.1 - Duties as to life insurance. - 36C-9-903.1. Duties as to life insurance. (a) Notwithstanding the provisions...

§ 36C-9-904 - Duties at inception of trusteeship. - 36C-9-904. Duties at inception of trusteeship. Within a reasonable time...

§ 36C-9-905 - Reviewing compliance. - 36C-9-905. Reviewing compliance. Compliance with the prudent investor rule is...

§ 36C-9-906 - Effect on charitable remainder trusts. - 36C-9-906. Effect on charitable remainder trusts. Nothing in this Article...

§ 36C-9-907 - Short title. - 36C-9-907. Short title. This Article may be cited as the...

Article 10 - Liability of Trustees and Rights of Persons Dealing with Trustees.

§ 36C-10-1001 - Remedies for breach of trust. - 36C-10-1001. Remedies for breach of trust. (a) A violation by...

§ 36C-10-1002 - Damages for breach of trust. - 36C-10-1002. Damages for breach of trust. (a) A trustee who...

§ 36C-10-1003 - Liability in absence of breach. - 36C-10-1003. Liability in absence of breach. (a) A trustee is...

§ 36C-10-1004 - Attorneys' fees and costs. - 36C-10-1004. Attorneys' fees and costs. In a judicial proceeding involving...

§ 36C-10-1005 - Limitation of action against trustee. - 36C-10-1005. Limitation of action against trustee. (a) No proceeding against...

§ 36C-10-1006 - Reliance on trust instrument. - 36C-10-1006. Reliance on trust instrument. A trustee who acts in...

§ 36C-10-1007 - Event affecting administration or distribution. - 36C-10-1007. Event affecting administration or distribution. If the happening of...

§ 36C-10-1008 - Exculpation of trustee. - 36C-10-1008. Exculpation of trustee. A term of a trust relieving...

§ 36C-10-1009 - Beneficiary's consent, release, or ratification. - 36C-10-1009. Beneficiary's consent, release, or ratification. (a) A trustee is...

§ 36C-10-1010 - Limitation on personal liability of trustee. - 36C-10-1010. Limitation on personal liability of trustee. (a) Except as...

§ 36C-10-1011 - Interest as general partner. - 36C-10-1011. Interest as general partner. (a) Except as otherwise provided...

§ 36C-10-1012 - Protection of person dealing with trustee. - 36C-10-1012. Protection of person dealing with trustee. (a) A person...

§ 36C-10-1013 - Certification of trust. - 36C-10-1013. Certification of trust. (a) Instead of furnishing a copy...

Article 11 - Miscellaneous Provisions.

§ 36C-11-1101 - Uniformity of application and construction. - 36C-11-1101. Uniformity of application and construction. In applying and construing...

§ 36C-11-1102 - Electronic records and signatures. - 36C-11-1102. Electronic records and signatures. The provisions of this Chapter...

§ 36C-11-1103 - Severability clause. - 36C-11-1103. Severability clause. If any provision of this Chapter or...

§ 36C-11-1104 - Trustee signatures. - 36C-11-1104. Trustee signatures. The signature of a trustee of a...

§ 36C-11-1106 - Application to existing relationships. - 36C-11-1106. Application to existing relationships. (a) Except as otherwise provided...

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North Carolina General Statutes Chapter 36C - North Carolina Uniform Trust Code

North Carolina General Statutes
Chapter 36C - North Carolina Uniform Trust Code