A BILL TO BE ENTITLED
AN ACT to clarify that trusts may be beneficiaries of payable on death accounts.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 53‑146.2 is amended by adding a new subsection to read:
"(e)	When referring to beneficiaries in this section, the term "person" includes an individual or corporate trustee of a trust."
SECTION 2.  G.S. 54‑109.57 is amended by adding a new subsection to read:
"(e)	When referring to beneficiaries in this section, the term "person" includes an individual or corporate trustee of a trust."
SECTION 3.  G.S. 54B‑130 is amended by adding a new subsection to read:
"(e)	When referring to beneficiaries in this section, the term "person" includes an individual or corporate trustee of a trust."
SECTION 4.  G.S. 54C‑166 is amended by adding a new subsection to read:
"(e)	When referring to beneficiaries in this section, the term "person" includes an individual or corporate trustee of a trust."
SECTION 5.  This act is effective when it becomes law and applies to all payable on demand accounts opened before or after the effective date of this act.