§ 36C-4B-1 – Short title.
36C-4B-1. Short title. This Article shall be known as the Charitable Remainder Administration Trust Act. (1981 (Reg. Sess., 1982), c. 1252, s. 1; 2005-192, s. 2.)
§ 36C-4B-2 – General rule.
36C-4B-2. General rule. Notwithstanding any provisions in the laws of this State or in the governing instruments to the contrary, any charitable remainder annuity trust and any charitable remainder unitrust that cannot qualify for a deduction for federal tax purposes under section 2055 or section 2522 of the Internal Revenue Code in the absence of […]
§ 36C-4B-3 – Definitions.
36C-4B-3. Definitions. The following definitions apply to this Article unless the context clearly requires otherwise: (1) "Charitable remainder trust" means a trust that provides for a specified distribution at least annually for either life or a term of years to one or more beneficiaries, at least one of which is not a charity (hereinafter referred […]
§ 36C-4B-4 – Administrative provisions applicable to both charitable remainder annuity trusts and charitable remainder unitrusts.
36C-4B-4. Administrative provisions applicable to both charitable remainder annuity trusts and charitable remainder unitrusts. (a) Creation of Remainder Interests in Charity. – Upon the termination of the noncharitable interests, the trustee shall distribute all of the then principal and income of the trust, other than any amount due the noncharitable beneficiary or beneficiaries, to the […]
§ 36C-4B-5 – Administrative provisions applicable to charitable remainder trusts only.
36C-4B-5. Administrative provisions applicable to charitable remainder trusts only. (a) Creation of Annuity Amount for Period of Years or Life. – In each taxable year of the trust, the trustee shall pay the annuity amount designated in the trust instrument to the beneficiaries named in the trust instrument during their lives or, if the governing […]
§ 36C-4B-6 – Administrative provisions applicable to charitable remainder unitrusts only.
36C-4B-6. Administrative provisions applicable to charitable remainder unitrusts only. (a) Creation of Unitrust Amount for a Period of Years or Life. – The trustee shall pay to the beneficiaries named in the trust investment in each taxable year of the trust during their lives or, if the governing instrument so provides, for a period not […]
§ 36C-4B-7 – Interpretation.
36C-4B-7. Interpretation. This Article shall be interpreted and construed to effectuate its general purpose to cause all charitable remainder annuity trusts and all charitable remainder unitrusts to be administered in accordance with section 2055 and section 2522 of the Internal Revenue Code and the regulations under those sections. (1981 (Reg. Sess., 1982), c. 1252, s. […]