{"data":{"id":"us-nc/n.c.-gen.-stat.-37a-1-104.5","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 37A-1-104.5","heading":"Matters in trustee's discretion.","body":"In administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine:\n(1)\tThe effective date of the conversion;\n(2)\tThe timing of distributions, including provisions for prorating a distribution for a short year in which a beneficiary's right to payments commences or ceases;\n(3)\tWhether distributions are to be made in cash or in kind or partly in cash and partly in kind;\n(4)\tIf the trust is reconverted to an income trust, the effective date of the reconversion; and\n(5)\tAny other administrative issues as may be necessary or appropriate to carry out the purposes of this Part. (2003-232, s. 2.)","path":["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."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_37A/GS_37A-1-104.5.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:01:42Z","sha256":"aae1143eaed7c785ffd1ace00a8c6eaa5341eb132ed9f17980039583df3cece8","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-37a-1-104.4","next":"us-nc/n.c.-gen.-stat.-37a-1-104.6"},"notice":"GroundRules: Original legal text. Not legal advice."}