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Laws of North Carolina (Last Updated: May 12, 2015) |
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Chapter36C. North Carolina Uniform Trust Code. |
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Article8. Duties and Powers of Trustee |
§36C-8-810. Record keeping and identification of trust property
Latest version.
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(a) A trustee shall keep adequate records of the administration of the trust.
(b) A trustee shall keep trust property separate from the trustee's own property.
(c) Except as otherwise provided in subsection (d) of this section, a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.
(d) If the trustee maintains records clearly indicating the respective interests, a trustee may invest and administer as a whole the property of two or more separate trusts.
(2005-192, s. 2; 2007-106, s. 34.1.)