Laws of North Carolina (Last Updated: May 12, 2015) |
Chapter37A. Uniform Principal and Income Act. |
Article1. Definitions and Fiduciary Duties; Conversion to Unitrust; Judicial Control of Discretionary Power |
Part2A. Express Total Return Unitrusts |
§37A-1-104.23. Effect of distribution of unitrust amount
Latest version.
-
The distribution from an express total return unitrust of the fixed percentage of not less than three percent (3%) nor more than five percent (5%) reasonably apportions between the income beneficiaries and remaindermen the total return of an express total return unitrust.
(2005-244, s. 6.)