§ 36C-11-1103 – Severability clause.
36C-11-1103. Severability clause. If any provision of this Chapter or its application to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this Chapter that can be given effect without the invalid provision or application, and to this end the provisions of this Chapter are severable. (2005-192, […]
§ 36C-10-1001 – Remedies for breach of trust.
36C-10-1001. Remedies for breach of trust. (a) A violation by a trustee of a duty the trustee owes under a trust is a breach of trust. (b) To remedy a breach of trust that has occurred or may occur, the court may: (1) Compel the trustee to perform the trustee’s duties; (2) Enjoin the trustee […]
§ 36C-10-1002 – Damages for breach of trust.
36C-10-1002. Damages for breach of trust. (a) A trustee who commits a breach of trust is liable for the greater of: (1) The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or (2) The profit the trustee made by […]
§ 36C-10-1003 – Liability in absence of breach.
36C-10-1003. Liability in absence of breach. (a) A trustee is accountable for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust. Nothing in this section limits a trustee’s right to compensation under G.S. 36C-7-708 or payments allowed under G.S. 36C-8-802(f). (b) Absent a breach of […]
§ 36C-10-1004 – Attorneys' fees and costs.
36C-10-1004. Attorneys’ fees and costs. In a judicial proceeding involving the administration of a trust, the court may award costs and expenses, including reasonable attorneys’ fees, as provided in the General Statutes, except that, in the case of a proceeding to establish the validity of a trust under Article 4C of this Chapter, the court […]
§ 36C-10-1005 – Limitation of action against trustee.
36C-10-1005. Limitation of action against trustee. (a) No proceeding against a trustee for breach of trust may be commenced more than five years after the first to occur of: (i) the removal, resignation, or death of the trustee; (ii) the termination of the beneficiary’s interest in the trust; or (iii) the termination of the trust. […]
§ 36C-10-1006 – Reliance on trust instrument.
36C-10-1006. Reliance on trust instrument. A trustee who acts in reasonable reliance on the terms of the trust as expressed in a trust instrument is not liable for a breach of trust to the extent that the breach resulted from the reliance. (2005-192, s. 2.)
§ 36C-10-1007 – Event affecting administration or distribution.
36C-10-1007. Event affecting administration or distribution. If the happening of an event, including marriage, divorce, performance of educational requirements, or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee’s lack of […]
§ 36C-9-905 – Reviewing compliance.
36C-9-905. Reviewing compliance. Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee’s decision or action and not by hindsight. (1999-215, s. 1; 2005-192, s. 2.)
§ 36C-9-906 – Effect on charitable remainder trusts.
36C-9-906. Effect on charitable remainder trusts. Nothing in this Article shall prevent the application of Article 4B of this Chapter to a "charitable remainder trust" as defined in G.S. 36C-4B-3(1). (1999-215, s. 1; 2005-192, s. 2.)