§ 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-8B-22 – Saving provision.
36C-8B-22. Saving provision. (a) If exercise of the decanting power would be effective under this Article except that the second trust in part does not comply with this Article, the exercise of the decanting power is effective and the following rules apply with respect to the principal of the second trust attributable to the exercise […]
§ 36C-8B-24 – Terms of second trust.
36C-8B-24. Terms of second trust. A reference in this Chapter to a trust instrument or terms of the trust includes a second trust and the terms of the second trust. (2017-121, s. 1.)
§ 36C-8B-25 – Settlor.
36C-8B-25. Settlor. (a) For the purposes of the laws of this State other than this Article and subject to subsection (b) of this section, a settlor of a first trust shall be deemed to be the settlor of the second trust with respect to the portion of the principal of the first trust subject to […]
§ 36C-8B-26 – Later-discovered property.
36C-8B-26. Later-discovered property. (a) Except as otherwise provided in subsection (c) of this section, if exercise of the decanting power was intended to distribute all the principal of the first trust to one or more second trusts, later-discovered property belonging to the first trust and property paid to or acquired by the first trust after […]
§ 36C-9-901 – Prudent investor rule; applicability.
36C-9-901. Prudent investor rule; applicability. (a) Except as otherwise provided in subsection (b) of this section, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this Article. (b) The prudent investor rule is a default rule and […]
§ 36C-9-902 – Standard of care; portfolio strategy; risk and return objectives.
36C-9-902. Standard of care; portfolio strategy; risk and return objectives. (a) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. (b) A trustee’s investment and […]
§ 36C-9-903 – Diversification.
36C-9-903. Diversification. A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying. (1999-215, s. 1; 2005-192, s. 2.)
§ 36C-9-903.1 – Duties as to life insurance.
36C-9-903.1. Duties as to life insurance. (a) Notwithstanding the provisions of this Article, the duties of a trustee with respect to acquiring or retaining a contract of insurance upon the life of the settlor, or the lives of the settlor and the settlor’s spouse, do not include a duty (i) to determine whether any such […]
§ 36C-9-904 – Duties at inception of trusteeship.
36C-9-904. Duties at inception of trusteeship. Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances […]