N.C. Gen. Stat. § 37A-1-104.26

Current through Session Law 2024-58

Section 37A-1-104.26 - Unitrust amount in excess of a five percent payout

A trust that provides for a fixed percentage payout in excess of five percent (5%) per year is considered an express total return unitrust that pays out a fixed percentage of five percent (5%) per year and pays out principal to the extent that the fixed percentage payout exceeds five percent (5%) per year.

N.C. Gen. Stat. § 37A-1-104.26

Added by 2005 N.C. Sess. Laws 244, s. 6, eff. 7/30/2005.