North Carolina General Statutes
Chapter 37A - Uniform Principal and Income Act

§ 37A-1-104.2 - Conversion in trustee's discretion without court approval. - 37A-1-104.2. Conversion in trustee's discretion without court approval. (a) Any...

§ 37A-1-104.3 - Conversion with court approval. - 37A-1-104.3. Conversion with court approval. (a) If any trustee desires...

§ 37A-1-104.4 - Determination of unitrust amount. - 37A-1-104.4. Determination of unitrust amount. (a) The fair market value...

§ 37A-1-104.5 - Matters in trustee's discretion. - 37A-1-104.5. Matters in trustee's discretion. In administering a total return...

§ 37A-1-104.6 - No effect on principal distributions. - 37A-1-104.6. No effect on principal distributions. Conversion to a total...

§ 37A-1-104.8 - No liability on part of trustee or disinterested person acting in good faith. - 37A-1-104.8. No liability on part of trustee or disinterested person...

§ 37A-1-104.9 - Applicability. - 37A-1-104.9. Applicability. This Part shall apply to all trusts in...

§ 37A-1-104.21 - Definitions. - 37A-1-104.21. Definitions. (a) An "express total return unitrust" means a...

§ 37A-1-104.22 - Determination of unitrust amount. - 37A-1-104.22. Determination of unitrust amount. (a) The unitrust amount to...

§ 37A-1-104.23 - Effect of distribution of unitrust amount. - 37A-1-104.23. Effect of distribution of unitrust amount. The distribution from...

§ 37A-1-104.24 - Change or conversion of unitrust amount. - 37A-1-104.24. Change or conversion of unitrust amount. (a) The terms...

§ 37A-1-104.25 - Determination of character of unitrust amount. - 37A-1-104.25. Determination of character of unitrust amount. Unless the terms...

§ 37A-1-104.26 - Unitrust amount in excess of a five percent payout. - 37A-1-104.26. Unitrust amount in excess of a five percent payout....

§ 37A-1-105 - Judicial control of discretionary power. - 37A-1-105. Judicial control of discretionary power. (a) The court shall...

Article 2 - Decedent's Estate or Terminating Income Interest.

§ 37A-2-201 - Determination and distribution of net income. - 37A-2-201. Determination and distribution of net income. After a decedent...

§ 37A-2-202 - Distribution to residuary and remainder beneficiaries. - 37A-2-202. Distribution to residuary and remainder beneficiaries. (a) Each beneficiary...

Article 3 - Apportionment at Beginning and End of Income Interest.

§ 37A-3-301 - When right to income begins and ends. - 37A-3-301. When right to income begins and ends. (a) An...

§ 37A-3-302 - Apportionment of receipts and disbursements when decedent dies or income interest begins. - 37A-3-302. Apportionment of receipts and disbursements when decedent dies or...

§ 37A-3-303 - Apportionment when income interest ends. - 37A-3-303. Apportionment when income interest ends. (a) In this section,...

Article 4 - Allocation of Receipts During Administration of Trust.

§ 37A-4-401 - Character of receipts. - 37A-4-401. Character of receipts. (a) In this section, "entity" means...

§ 37A-4-402 - Distribution from trust or estate. - 37A-4-402. Distribution from trust or estate. A trustee shall allocate...

§ 37A-4-403 - Business and other activities conducted by trustee. - 37A-4-403. Business and other activities conducted by trustee. (a) If...

§ 37A-4-404 - Principal receipts. - 37A-4-404. Principal receipts. A trustee shall allocate to principal: (1)...

§ 37A-4-405 - Rental property. - 37A-4-405. Rental property. To the extent that a trustee accounts...

§ 37A-4-406 - Obligation to pay money. - 37A-4-406. Obligation to pay money. (a) An amount received as...

§ 37A-4-407 - Insurance policies and similar contracts. - 37A-4-407. Insurance policies and similar contracts. (a) Except as otherwise...

§ 37A-4-408 - Insubstantial allocations not required. - 37A-4-408. Insubstantial allocations not required. If a trustee determines that...

§ 37A-4-409 - Deferred compensation, annuities, and similar payments. - 37A-4-409. Deferred compensation, annuities, and similar payments. (a) In this...

§ 37A-4-410 - Liquidating asset. - 37A-4-410. Liquidating asset. (a) In this section, "liquidating asset" means...

§ 37A-4-411 - Minerals, water, and other natural resources. - 37A-4-411. Minerals, water, and other natural resources. (a) To the...

§ 37A-4-412 - Timber. - 37A-4-412. Timber. (a) To the extent that a trustee accounts...

§ 37A-4-413 - Property not productive of income. - 37A-4-413. Property not productive of income. (a) If a marital...

§ 37A-4-414 - Derivatives and options. - 37A-4-414. Derivatives and options. (a) In this section, "derivative" means...

§ 37A-4-415 - Asset-backed securities. - 37A-4-415. Asset-backed securities. (a) In this section, "asset-backed security" means...

Article 5 - Allocation of Disbursements During Administration of Trust.

§ 37A-5-501 - Disbursements from income. - 37A-5-501. Disbursements from income. A trustee shall make the following...

§ 37A-5-502 - Disbursements from principal. - 37A-5-502. Disbursements from principal. (a) A trustee shall make the...

§ 37A-5-503 - Transfers from income to principal for depreciation. - 37A-5-503. Transfers from income to principal for depreciation. (a) In...

§ 37A-5-504 - Transfers from income to reimburse principal. - 37A-5-504. Transfers from income to reimburse principal. (a) If a...

§ 37A-5-505 - Income taxes. - 37A-5-505. Income taxes. (a) A tax required to be paid...

§ 37A-5-506 - Adjustments between principal and income because of taxes. - 37A-5-506. Adjustments between principal and income because of taxes. (a)...

Article 6 - Miscellaneous Provisions.

§ 37A-6-601 - Uniformity of application and construction. - 37A-6-601. Uniformity of application and construction. In applying and construing...

§ 37A-6-602 - Severability clause. - 37A-6-602. Severability clause. If any provision of this Chapter or...

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North Carolina General Statutes Chapter 37A - Uniform Principal and Income Act

North Carolina General Statutes
Chapter 37A - Uniform Principal and Income Act