N.C. Gen. Stat. § 37A-1-104.6

Current through Session Law 2024-53

Section 37A-1-104.6 - No effect on principal distributions

Conversion to a total return unitrust under this Part shall not affect any other provision of the governing instrument, if any, regarding distributions of principal. For purposes of this Part, the distribution of a unitrust amount is considered a distribution of income and not of principal.

N.C. Gen. Stat. § 37A-1-104.6

Added by 2003 N.C. Sess. Laws 0232, s. 2, eff. 1/1/2004.