§ 32-75 – Employee trusts.
32-75. Employee trusts. Pension, profit sharing, stock bonus, annuity, or other employee trusts established for the purpose of distributing the income and principal thereof to some or all of their employees, or the beneficiaries of such employees, shall not be invalid as violating any laws or rules against perpetuities, restraints on the power of alienation […]
§ 32-76 – Applicability.
32-76. Applicability. The provisions of this Article shall apply to fiduciary relationships in existence on January 1, 1978, or thereafter established. (1977, c. 502, s. 2; 2005-192, s. 1.)
§ 32-61 – Counsel fees allowable to attorneys serving as fiduciaries.
32-61. Counsel fees allowable to attorneys serving as fiduciaries. The clerk of superior court may exercise discretion to allow counsel fees to an attorney serving as a fiduciary or trustee (in addition to the compensation allowed to the attorney as a fiduciary or trustee) where the attorney, on behalf of the trust or fiduciary relationship, […]
§ 32-62 – Applicability.
32-62. Applicability. Regardless of when the trust or fiduciary relationship is created, the provisions of this Article shall apply to all payments made to a fiduciary after January 1, 2005, including payments for compensation earned prior to January 1, 2005. (2004-139, s. 2.)
§ 32-70 – Definition.
32-70. Definition. (a) For the purpose of this Article, the word "fiduciary" shall be construed to include a guardian, personal representative, collector, trustee, or any other person charged with the duty of acting for the benefit of another party as to matters coming within the scope of the relationship between them. (b) As used in […]
§ 32-71 – Investment; prudent person rule.
32-71. Investment; prudent person rule. (a) In acquiring, investing, reinvesting, exchanging, retaining, selling, and managing property for the benefit of another, a fiduciary shall observe the standard of judgment and care under the circumstances then prevailing, which an ordinarily prudent person of discretion and intelligence, who is a fiduciary of the property of others, would […]
§ 32-72 – Terms of creating instrument.
32-72. Terms of creating instrument. (a) Nothing contained in this Article shall be construed as authorizing any departure from the express terms or limitations set forth in any will, agreement, court order, or other instrument creating or defining the fiduciary’s powers and duties. (b) A fiduciary holding funds for investment who is specifically directed or […]
§ 32-73 – Power of court not restricted.
32-73. Power of court not restricted. Nothing contained in this Article shall be construed as restricting the power of a court of proper jurisdiction to permit a fiduciary to deviate from the terms of any will, agreement, or other instrument relating to the acquisition, investment, reinvestment, exchange, retention, sale, or management of fiduciary property. (1977, […]
§ 32-74 – Applicability of provisions.
32-74. Applicability of provisions. This Article shall govern fiduciaries acting under wills, agreements, court orders, and other instruments now existing or hereafter made. (1977, c. 502, s. 2; 2005-192, s. 1.)
§ 32-58 – Reimbursement for expenses incurred.
32-58. Reimbursement for expenses incurred. In addition to the compensation referred to in G.S. 32-54, the trustee shall be entitled to reimbursement out of the assets of the trust for expenses properly incurred or advanced in the administration of the trust and shall be empowered to pay the expenses from the assets of the trust […]