(a) An "express total return unitrust" means a trust that has a governing instrument requiring the distribution at least annually of a unitrust amount equal to a fixed percentage of not less than three percent (3%) nor more than five percent (5%) per year of the net fair market value of the trust's assets, valued at least annually.
(b) "Code" means the Internal Revenue Code as described in G.S. 37A-1-104.1(1).
(c) "Treasury regulations" means the treasury regulations described in G.S. 37A-1-104.1(9a). (2005-244, s. 6.)
Sections: Previous 37A-1-104.2 37A-1-104.3 37A-1-104.4 37A-1-104.5 37A-1-104.6 37A-1-104.8 37A-1-104.9 37A-1-104.21 37A-1-104.22 37A-1-104.23 37A-1-104.24 37A-1-104.25 37A-1-104.26 37A-1-105 37A-2-201 Next
Last modified: March 23, 2014