GroundRules
N.C. Gen. Stat. § 37A-1-104.21: Definitions.
Where this section sits in the code
- Chapter 37A. Uniform Principal and Income Act.
- Article 1. Definitions and Fiduciary Duties; Conversion to Unitrust; Judicial Control of Discretionary Power.
- Part 2A. Express Total Return Unitrusts.
(a) An "express total return unitrust" means a trust that has a governing instrument requiring the distribution at least annually of a unitrust amount equal to a fixed percentage of not less than three percent (3%) nor more than five percent (5%) per year of the net fair market value of the trust's assets, valued at least annually.
(b) "Code" means the Internal Revenue Code as described in G.S. 37A-1-104.1(1).
(c) "Treasury regulations" means the treasury regulations described in G.S. 37A-1-104.1(9a). (2005-244, s. 6.)
Collected 2026-08-27T18:01:42Z. Source file · JSON