§ 36C-8-813 – Duty to inform and report.
36C-8-813. Duty to inform and report. (a) The trustee is under a duty to do all of the following: (1) Provide reasonably complete and accurate information as to the nature and amount of the trust property, at reasonable intervals, to any qualified beneficiary who is a distributee or permissible distributee of trust income or principal. […]
§ 36C-7-709 – Reimbursement of expenses.
36C-7-709. Reimbursement of expenses. A trustee is entitled to be reimbursed out of the trust property for expenses properly incurred in the administration of the trust as provided in G.S. 32-58. (2005-192, s. 2.)
§ 36C-8-801 – Duty to administer trust.
36C-8-801. Duty to administer trust. Upon acceptance of a trusteeship, a trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this Chapter. (2005-192, s. 2.)
§ 36C-8-802 – Duty of loyalty.
36C-8-802. Duty of loyalty. (a) A trustee shall administer the trust solely in the interests of the beneficiaries. (b) Subject to the rights of persons dealing with or assisting the trustee as provided in G.S. 36C-10-1012, a sale, encumbrance, or other transaction involving the investment or management of trust property entered into by the trustee […]
§ 36C-8-803 – Impartiality.
36C-8-803. Impartiality. If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries’ respective interests. (1999-215, s. 1; 2005-192, s. 2.)
§ 36C-8-804 – Prudent administration.
36C-8-804. Prudent administration. A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. (2005-192, s. 2.)
§ 36C-8-805 – Cost of administration.
36C-8-805. Cost of administration. In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee. (1999-215, s. 1; 2005-192, s. 2.)
§ 36C-8-806 – Trustee's skills.
36C-8-806. Trustee’s skills. A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee’s representation that the trustee has special skills or expertise, shall use those special skills or expertise. (1999-215, s. 1; 2005-192, s. 2.)
§ 36C-8-807 – Delegation by trustee.
36C-8-807. Delegation by trustee. (a) A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: (1) Selecting an agent; (2) Establishing the scope and terms of the delegation, consistent with the purposes and terms of […]
§ 36C-8-808 – Powers of a settlor to take certain actions with respect to the trust.
36C-8-808. Powers of a settlor to take certain actions with respect to the trust. While a trust is revocable, the settlor of a revocable trust has, at all times, the power to direct or consent to the actions of the trustee whether or not the power is conferred upon the settlor by the terms of […]