North Carolina General Statutes § 37A-1-104.6 No effect on principal distributions

Conversion to a total return unitrust under this Part shall not affect any other provision of the governing instrument, if any, regarding distributions of principal. For purposes of this Part, the distribution of a unitrust amount is considered a distribution of income and not of principal. (2003-232, s. 2.)

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Last modified: March 23, 2014