GroundRules
N.C. Gen. Stat. § 37A-1-104.26: Unitrust amount in excess of a five percent payout.
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 trust that provides for a fixed percentage payout in excess of five percent (5%) per year is considered an express total return unitrust that pays out a fixed percentage of five percent (5%) per year and pays out principal to the extent that the fixed percentage payout exceeds five percent (5%) per year. (2005-244, s. 6.)
Collected 2026-08-27T18:01:42Z. Source file · JSON