{"data":{"id":"us-nc/n.c.-gen.-stat.-37a-1-104.22","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 37A-1-104.22","heading":"Determination of unitrust amount.","body":"(a)\tThe unitrust amount to be distributed by the express total return unitrust may be determined in the governing instrument by reference to the net fair market value of the trust's assets determined annually or averaged on a multiple year basis.\n(b)\tThe terms of the governing instrument of an express total return unitrust may provide that:\n(1)\tAssets for which a fair market value cannot be readily ascertained shall be valued using valuation methods that the trustee considers reasonable and appropriate.\n(2)\tAssets, such as a residence property or tangible personal property, used by the trust beneficiary entitled to the unitrust amount may be excluded from the net fair market value for computing the unitrust amount. (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-1-104.22.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:01:42Z","sha256":"24eea3329a1baf5b81b6e8ad3884fe0764aeb528568a48b9e9ad8dde8367be13","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-37a-1-104.21","next":"us-nc/n.c.-gen.-stat.-37a-1-104.23"},"notice":"GroundRules: Original legal text. Not legal advice."}