GroundRules
N.C. Gen. Stat. § 37A-1-104.6: No effect on principal distributions.
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 2. Conversion to Unitrust.
Conversion to a total return unitrust under this Part shall not affect any other provision of the governing instrument, if any, regarding distributions of principal. For purposes of this Part, the distribution of a unitrust amount is considered a distribution of income and not of principal. (2003-232, s. 2.)
Collected 2026-08-27T18:01:42Z. Source file · JSON