Chapter 37A - Uniform Principal and Income Act.

The General Statutes include changes through SL 2024-58.

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Chapter 37A
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Article 1 - Definitions and Fiduciary Duties; Conversion to Unitrust; Judicial Control of Discretionary Power.
G.S. 37A-1-101
§ 37A-1-101. Short title.
G.S. 37A-1-102
§ 37A-1-102. Definitions.
G.S. 37A-1-103
§ 37A-1-103. Fiduciary duties; general principles.
G.S. 37A-1-104
§ 37A-1-104. Trustee's power to adjust.
G.S. 37A-1-104.1
§ 37A-1-104.1. Definitions.
G.S. 37A-1-104.2
§ 37A-1-104.2. Conversion in trustee's discretion without court approval.
G.S. 37A-1-104.3
§ 37A-1-104.3. Conversion with court approval.
G.S. 37A-1-104.4
§ 37A-1-104.4. Determination of unitrust amount.
G.S. 37A-1-104.5
§ 37A-1-104.5. Matters in trustee's discretion.
G.S. 37A-1-104.6
§ 37A-1-104.6. No effect on principal distributions.
G.S. 37A-1-104.7
§ 37A-1-104.7: Repealed by Session Laws 2007-106, s. 49.1, effective October 1, 2007.
G.S. 37A-1-104.8
§ 37A-1-104.8. No liability on part of trustee or disinterested person acting in good faith.
G.S. 37A-1-104.9
§ 37A-1-104.9. Applicability.
G.S. 37A-1-104.21
§ 37A-1-104.21. Definitions.
G.S. 37A-1-104.22
§ 37A-1-104.22. Determination of unitrust amount.
G.S. 37A-1-104.23
§ 37A-1-104.23. Effect of distribution of unitrust amount.
G.S. 37A-1-104.24
§ 37A-1-104.24. Change or conversion of unitrust amount.
G.S. 37A-1-104.25
§ 37A-1-104.25. Determination of character of unitrust amount.
G.S. 37A-1-104.26
§ 37A-1-104.26. Unitrust amount in excess of a five percent payout.
G.S. 37A-1-105
§ 37A-1-105. Judicial control of discretionary power.
Article 2 - Decedent's Estate or Terminating Income Interest.
G.S. 37A-2-201
§ 37A-2-201. Determination and distribution of net income.
G.S. 37A-2-202
§ 37A-2-202. Distribution to residuary and remainder beneficiaries.
Article 3 - Apportionment at Beginning and End of Income Interest.
G.S. 37A-3-301
§ 37A-3-301. When right to income begins and ends.
G.S. 37A-3-302
§ 37A-3-302. Apportionment of receipts and disbursements when decedent dies or income interest begins.
G.S. 37A-3-303
§ 37A-3-303. Apportionment when income interest ends.
Article 4 - Allocation of Receipts During Administration of Trust.
G.S. 37A-4-401
§ 37A-4-401. Character of receipts.
G.S. 37A-4-402
§ 37A-4-402. Distribution from trust or estate.
G.S. 37A-4-403
§ 37A-4-403. Business and other activities conducted by trustee.
G.S. 37A-4-404
§ 37A-4-404. Principal receipts.
G.S. 37A-4-405
§ 37A-4-405. Rental property.
G.S. 37A-4-406
§ 37A-4-406. Obligation to pay money.
G.S. 37A-4-407
§ 37A-4-407. Insurance policies and similar contracts.
G.S. 37A-4-408
§ 37A-4-408. Insubstantial allocations not required.
G.S. 37A-4-409
§ 37A-4-409. Deferred compensation, annuities, and similar payments.
G.S. 37A-4-410
§ 37A-4-410. Liquidating asset.
G.S. 37A-4-411
§ 37A-4-411. Minerals, water, and other natural resources.
G.S. 37A-4-412
§ 37A-4-412. Timber.
G.S. 37A-4-413
§ 37A-4-413. Property not productive of income.
G.S. 37A-4-414
§ 37A-4-414. Derivatives and options.
G.S. 37A-4-415
§ 37A-4-415. Asset-backed securities.
Article 5 - Allocation of Disbursements During Administration of Trust.
G.S. 37A-5-501
§ 37A-5-501. Disbursements from income.
G.S. 37A-5-502
§ 37A-5-502. Disbursements from principal.
G.S. 37A-5-503
§ 37A-5-503. Transfers from income to principal for depreciation.
G.S. 37A-5-504
§ 37A-5-504. Transfers from income to reimburse principal.
G.S. 37A-5-505
§ 37A-5-505. Income taxes.
G.S. 37A-5-506
§ 37A-5-506. Adjustments between principal and income because of taxes.
Article 6 - Miscellaneous Provisions.
G.S. 37A-6-601
§ 37A-6-601. Uniformity of application and construction.
G.S. 37A-6-602
§ 37A-6-602. Severability clause.