{"data":{"id":"us-nc/n.c.-gen.-stat.-36c-10-1012","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 36C-10-1012","heading":"Protection of person dealing with trustee.","body":"(a)\tA person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee's powers, is protected from liability as if the trustee properly exercised the power.\n(b)\tA person other than a beneficiary who in good faith deals with a trustee is not required to inquire into the extent of the trustee's powers or the propriety of their exercise.\n(c)\tA person who in good faith delivers assets to a trustee need not ensure their proper application.\n(d)\tA person other than a beneficiary who in good faith assists a former trustee, or who in good faith and for value deals with a former trustee, without knowledge that the trusteeship has terminated is protected from liability as if the former trustee were still a trustee.\n(e)\tComparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.\n(f)\tA person is not required to obtain a certification under G.S. 36C-10-1013 in order to be entitled to the protections of this section. (2005-192, s. 2.)","path":["Chapter 36C. North Carolina Uniform Trust Code.","Article 10. Liability of Trustees and Rights of Persons Dealing with Trustees."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_36C/GS_36C-10-1012.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:01:17Z","sha256":"45472688d476c10cd5528123423521297a747f9aafa9e45ca2b19d839f085932","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-36c-10-1011","next":"us-nc/n.c.-gen.-stat.-36c-10-1013"},"notice":"GroundRules: Original legal text. Not legal advice."}