N.C. Gen. Stat. § 36C-1-101
Short title
Short title. This Chapter may be cited as the North Carolina Uniform Trust Code. (2005-192, s. 2.)
North Carolina General Statutes Chapter 36C — Chapter 36C.
North Carolina · statute · N.C. Gen. Stat. ch. 36C · 171 active provisions
N.C. Gen. Stat. § 36C-1-102
Scope
Scope. This Chapter applies to any express trust, private or charitable, with additions to the trust, wherever and however created. The term "express trust" includes both testamentary and inter vivos trusts, regardless of whether the trustee is required to account to the clerk of superior court. This Chapter also appli…
N.C. Gen. Stat. § 36C-1-103
Definitions
Definitions. The following definitions apply in this Chapter: (1) Action. - When applicable to an act of a trustee, includes a failure to act. (2) Ascertainable standard. - A standard relating to an individual's health, education, support, or maintenance within the meaning of section 2041(b)(1)(A) or 2514(c)(1) of the…
N.C. Gen. Stat. § 36C-1-104
Knowledge
Knowledge. (a) Subject to subsection (b) of this section, a person has knowledge of a fact if the person: (1) Has actual knowledge of it; (2) Has received notice or notification of it; or (3) From all the facts and circumstances known to the person at the time in question, has reason to know it. (b) An organization tha…
N.C. Gen. Stat. § 36C-1-105
Default and mandatory rules
Default and mandatory rules. (a) Except as otherwise provided in the terms of the trust, this Chapter governs the duties and powers of a trustee and a power holder under Article 8A of this Chapter, relations among trustees and those power holders, and the rights and interests of a beneficiary. (b) The terms of a trust…
N.C. Gen. Stat. § 36C-1-106
Common law of trusts; principles of equity
Common law of trusts; principles of equity. The common law of trusts and principles of equity supplement this Chapter, except to the extent modified by this Chapter or another statute of this State. (2005-192, s. 2.)
N.C. Gen. Stat. § 36C-1-107
Governing law
Governing law. (a) The meaning and effect of the terms of a trust are determined by any of the following: (1) The law of the jurisdiction designated in the terms unless the designation of that jurisdiction's law is contrary to a strong public policy of the jurisdiction having the most significant relationship to the ma…
N.C. Gen. Stat. § 36C-1-108
Principal place of administration
Principal place of administration. (a) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the principal place of administration are valid and controlling if: (1) A trustee's principal place of business is located in, or a trustee is a r…
N.C. Gen. Stat. § 36C-1-109
Methods and waiver of notice
Methods and waiver of notice. (a) Subject to subsection (d) of this section, notice to a person under this Chapter or the sending of a document to a person under this Chapter must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. (1) Permi…
N.C. Gen. Stat. § 36C-1-110
Others treated as qualified beneficiaries
Others treated as qualified beneficiaries. (a) A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this Chapter if the charitable organization, on the date the charitable organization's qualification is being deter…
N.C. Gen. Stat. § 36C-1-111
Nonjudicial settlement agreements
Nonjudicial settlement agreements. (a) For purposes of this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court. (b) Interested persons may enter into a binding nonjudicial settlement agreement with respect…
N.C. Gen. Stat. § 36C-1-112
Rules of construction
Rules of construction. The rules of construction that apply in this State to the interpretation of and disposition of property by will also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property. (2005-192, s. 2.)
N.C. Gen. Stat. § 36C-1-113
Construction of certain formula clauses applicable to estates of decedents dying in calendar year 2010
Construction of certain formula clauses applicable to estates of decedents dying in calendar year 2010. (a) Purpose. - The federal estate tax and generation-skipping transfer tax expired January 1, 2010, for one year. To carry out the intent of decedents in the construction of wills and trusts and to promote judicial e…
N.C. Gen. Stat. § 36C-1-114
Insurable interest of trustee
Insurable interest of trustee. (a) As used in this section, the term "settlor" means a person that executes a trust instrument. The term includes a person for whom a fiduciary or agent is acting. (b) A trustee of a trust has an insurable interest in the life of an individual insured under a life insurance policy that i…
N.C. Gen. Stat. § 36C-2-201
Role of court in administration of trust
Role of court in administration of trust. (a) The court may intervene in the administration of a trust to the extent its jurisdiction is invoked by a party or as provided by law. (b) A trust is not subject to continuing judicial supervision, except as provided in G.S. 36C-2-208 and G.S. 36C-2-209, unless ordered by the…
N.C. Gen. Stat. § 36C-2-202
Jurisdiction over trustee and beneficiary
Jurisdiction over trustee and beneficiary. (a) By accepting the trusteeship of a trust having its principal place of administration in this State, or by moving the principal place of administration to this State, the trustee submits personally to the jurisdiction of the courts of this State regarding any matter involvi…
N.C. Gen. Stat. § 36C-2-203
Subject matter jurisdiction
Subject matter jurisdiction. (a) The clerks of superior court of this State have original jurisdiction over all proceedings concerning the internal affairs of trusts. Except as provided in subdivision (9) of this subsection, the clerk of superior court's jurisdiction is exclusive. Proceedings concerning the internal af…
N.C. Gen. Stat. § 36C-2-204
Venue
Venue. In any trust proceeding, whether brought before the clerk of superior court or the Superior Court Division of the General Court of Justice, the following rules apply: (1) If the trustee is required to account to the clerk of superior court, venue for proceedings under G.S. 36C-2-203 involving trusts is the place…
N.C. Gen. Stat. § 36C-2-205
Commencement of proceedings, pleadings, consolidation, and joinder
Commencement of proceedings, pleadings, consolidation, and joinder. (a) Contested Proceedings. - Trust proceedings before the clerk of superior court brought against adverse parties shall be commenced as is prescribed for civil actions. Upon the filing of the petition or complaint, the clerk of superior court shall doc…
N.C. Gen. Stat. § 36C-2-206
Representation of parties
Representation of parties. (a) Notwithstanding any other applicable rule of the Rules of Civil Procedure or provision of Chapter 1 of the General Statutes, in any trust proceeding, whether brought before the clerk of superior court or in the superior court division of the General Court of Justice, the parties shall be…
N.C. Gen. Stat. § 36C-2-207
Waiver of notice
Waiver of notice. A party, or the representative of the party as provided in G.S. 36C-2-206, may waive notice by a writing signed by the party, the representative, or the attorney of the party or the representative, and filed in the proceeding. (2001-413, s. 1; 2005-192, s. 2.)
N.C. Gen. Stat. § 36C-2-208
Accounting to clerk
Accounting to clerk. (a) No trustee, including a trustee appointed by the clerk of superior court, is required to account to the clerk of superior court unless the trust instrument directs that the trustee is required to account to the clerk of superior court or unless the trustee is otherwise required by law to accoun…
N.C. Gen. Stat. § 36C-2-209
Qualification and accounting of trustee of a testamentary trust
Qualification and accounting of trustee of a testamentary trust. (a) For any testamentary trust created under a will of a decedent executed before January 1, 2004, the trustee shall first qualify under the laws applicable to executors, and shall file in the office of the clerk of superior court of the county where the…
N.C. Gen. Stat. § 36C-3-301
Representation: basic effect
Representation: basic effect. (a) Notice to a person who may represent and bind another person under this Article has the same effect as if notice were given directly to the other person. (b) The consent of a person who may represent and bind another person under this Article is binding on the person represented unless…
N.C. Gen. Stat. § 36C-3-302
Representation by holder of power of revocation or general power of appointment
Representation by holder of power of revocation or general power of appointment. The sole holder or all coholders of a power of revocation or a presently exercisable or testamentary general power of appointment, including one in the form of a power of amendment, shall represent and bind other persons to the extent that…
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