{"data":{"id":"us-nc/n.c.-gen.-stat.-37a-1-104.21","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 37A-1-104.21","heading":"Definitions.","body":"(a)\tAn \"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.\n(b)\t\"Code\" means the Internal Revenue Code as described in G.S. 37A-1-104.1(1).\n(c)\t\"Treasury regulations\" means the treasury regulations described in G.S. 37A-1-104.1(9a). (2005-244, s. 6.)","path":["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."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_37A/GS_37A-1-104.21.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:01:42Z","sha256":"be0936302f080e880ff57a91169f1d98677be01160a989ad0f1f066e08dc8eba","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-37a-1-104.9","next":"us-nc/n.c.-gen.-stat.-37a-1-104.22"},"notice":"GroundRules: Original legal text. Not legal advice."}