§ 32-56 – Payment of compensation without court order.
32-56. Payment of compensation without court order. The trustee is authorized to pay the compensation provided for in G.S. 32-54 without prior approval of the clerk of superior court only if: (1) The annual amount of compensation does not exceed four-tenths of one percent (4/10 of 1%) of the principal value of the assets of […]
§ 32-57 – Judicial review; payment of compensation and other payments with court order.
32-57. Judicial review; payment of compensation and other payments with court order. (a) If the terms of the trust do not specify the trustee’s compensation, the trustee or any qualified beneficiary, or representative of a qualified beneficiary, may initiate a proceeding under Article 2 of Chapter 36C of the General Statutes for review of the […]
§ 32-10 – Deposit in fiduciary's personal account.
32-10. Deposit in fiduciary’s personal account. If a fiduciary makes a deposit in a bank to his personal credit of checks drawn by him upon an account in his own name as fiduciary or of checks payable to him as fiduciary or of checks drawn by him upon an account in the name of his […]
§ 32-11 – Deposit in names of two or more trustees.
32-11. Deposit in names of two or more trustees. When a deposit is made in a bank in the name of two or more persons as trustees and a check is drawn upon the trust account by any trustee or trustees authorized by the other trustee or trustees to draw checks upon the trust account, […]
§ 32-1 – Short title.
32-1. Short title. This Article may be cited as the Uniform Fiduciaries Act. (1923, c. 85, s. 14; C.S., s. 1864(d); 1965, c. 628, s. 2.)
§ 32-2 – Definition of terms.
32-2. Definition of terms. (a) In this Article unless the context or subject matter otherwise requires: "Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking. "Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, […]
§ 32-3 – Application of payments made to fiduciaries.
32-3. Application of payments made to fiduciaries. A person who in good faith pays or transfers to a fiduciary any money or other property, which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary; and any right or title acquired from the fiduciary in consideration […]
§ 32-5 – Transfer of negotiable instrument by fiduciary.
32-5. Transfer of negotiable instrument by fiduciary. If any negotiable instrument payable or indorsed to a fiduciary as such is indorsed by a fiduciary, or if any negotiable instrument payable or indorsed to his principal is indorsed by a fiduciary empowered to indorse such instrument on behalf of his principal, the indorsee is not bound […]
§ 32-6 – Check drawn by fiduciary payable to third person.
32-6. Check drawn by fiduciary payable to third person. If a check or other bill of exchange is drawn by a fiduciary as such, or in the name of his principal by a fiduciary empowered to draw such instrument in the name of his principal, the payee is not bound to inquire whether the fiduciary […]
§ 32-7 – Check drawn by and payable to fiduciary.
32-7. Check drawn by and payable to fiduciary. If a check or other bill of exchange is drawn by a fiduciary as such or in the name of his principal by a fiduciary empowered to draw such instrument in the name of his principal, payable to the fiduciary personally, or payable to a third person […]