{"data":{"id":"us-nc/n.c.-gen.-stat.-37a-4-402","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 37A-4-402","heading":"Distribution from trust or estate.","body":"A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest and shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in a trust to a trustee, G.S. 37A-4-401 or G.S. 37A-4-415 applies to a receipt from the trust. (2003-232, s. 2.)","path":["Chapter 37A. Uniform Principal and Income Act.","Article 4. Allocation of Receipts During Administration of Trust.","Part 1. Receipts From Entities."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_37A/GS_37A-4-402.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:01:42Z","sha256":"20538e27b6e13a12fd9c7592c9897efef0cdf59fc66bc072a016a349bd4e9910","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-37a-4-401","next":"us-nc/n.c.-gen.-stat.-37a-4-403"},"notice":"GroundRules: Original legal text. Not legal advice."}