reglab/housing_qa huggingface dataset:
NC Gen Stat § 36C-8A-4.2 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions.|§ 36C-8A-4.2 - Defenses in action against power holder.

 36C-8A-4.2. Defenses in action against power holder.In an action against a power holder for breach of trust, the power holder may assert the same defenses that a trustee in a like position and under similar circumstances could assert in an action for breach of trust against the trustee, including the following:(1) Reasonable reliance on the terms of a trust pursuant to G.S. 36C-9-901(b) and G.S. 36C-10-1006.(2) Reasonable care in ascertaining the happening of an event affecting the administration or distribution of a trust pursuant to G.S. 36C-10-1007.(3) Beneficiary's consent, release, or ratification pursuant to G.S. 36C-10-1009.  (2021-85, s. 2(c).)
NC Gen Stat § 36C-8A-5 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions.|§ 36C-8A-5 - Compensation and reimbursement of expenses of power holder.

 36C-8A-5. Compensation and reimbursement of expenses of power holder.A power holder as a fiduciary is entitled to compensation and reimbursement of expenses as provided in G.S. 32-59.  (2012-18, s. 3.4.)
NC Gen Stat § 36C-8A-6 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions.|§ 36C-8A-6 - Jurisdiction over power holder.

 36C-8A-6. Jurisdiction over power holder.(a) By accepting appointment to serve as a power holder with respect to a trust having its principal place of business in this State, or by moving the principal place of administration to this State, the power holder submits personally to the jurisdiction of the courts of this State regarding any matter involving action or inaction of the power holder.(b) This section does not preclude other methods of obtaining jurisdiction over a power holder.  (2012-18, s. 3.4.)
NC Gen Stat § 36C-8A-7 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions.|§ 36C-8A-7 - Accepting or declining the appointment as power holder.

 36C-8A-7. Accepting or declining the appointment as power holder.(a) A person designated as a power holder accepts the appointment to serve as a power holder:(1) By substantially complying with a method of acceptance provided in the terms of a trust; or(2) If the terms of a trust do not provide a method or the method provided in the terms of a trust is not expressly made exclusive, by exercising powers or performing duties as a power holder or otherwise indicating acceptance of the appointment to serve as a power holder.(b) A person designated as a power holder may reject the appointment to serve as a power holder. A trustee may give written notice to a power holder requesting acceptance of the appointment as power holder. A power holder who does not accept such appointment within 120 days after receipt of such notice is considered to have rejected the appointment to serve as a power holder.  (2012-18, s. 3.4.)
NC Gen Stat § 36C-8A-8 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions.|§ 36C-8A-8 - Vacancy in the office of the power holder.

 36C-8A-8. Vacancy in the office of the power holder.(a) If a vacancy occurs in the office of the power holder because the power holder fails or ceases to act for any reason, all of the following apply:(1) If one or more power holders remain in office, a vacancy in the office of the power holder need not be filled.(2) If the terms of the trust provide for a successor to the power holder, the person designated by the terms of the trust or appointed under the terms of the trust shall act as the successor power holder.(3) During the time when a vacancy occurs, the trustee shall be vested with any fiduciary power or duty conferred upon the power holder by the terms of the trust that are described in G.S. 36C-8A-2(a).(4) The court may appoint a power holder whenever the court considers the appointment necessary for the administration of the trust.(b) A successor power holder shall succeed to all the powers and is subject to the duties and liabilities that were imposed upon the original power holder, unless a contrary intent appears from the governing instrument.  (2012-18, s. 3.4; 2021-85, s. 2(c).)
NC Gen Stat § 36C-8A-9 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions.|§ 36C-8A-9 - More than one power holder.

 36C-8A-9. More than one power holder.When there is more than one power holder authorized to act, and they are unable to reach a unanimous decision, they may act by majority decision. Unanimity is required when only two are authorized to act.  (2012-18, s. 3.4.)
NC Gen Stat § 36C-8A-10 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions.|§ 36C-8A-10 - Resignation of power holder.

 36C-8A-10. Resignation of power holder.(a) A power holder may resign upon either of the following conditions:(1) Upon at least 30 days' notice in writing to the qualified beneficiaries, the settlor, if living, and all trustees.(2) With the approval of the court.(b) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.  (2012-18, s. 3.4.)
NC Gen Stat § 36C-8A-11 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions.|§ 36C-8A-11 - Removal of power holder.

 36C-8A-11. Removal of power holder.(a) For the reasons set forth in subsection (b) of this section, the settlor of an irrevocable trust, a trustee of an irrevocable trust, or a beneficiary of an irrevocable trust may request the court to remove a power holder, or a power holder may be removed by the court on its own initiative.(b) The court may remove a power holder under any of the following circumstances:(1) The power holder has committed a serious breach of trust.(2) Lack of cooperation with the trustee substantially impairs the administration of the trust.(3) Because of unfitness, unwillingness, or a persistent failure of the power holder to exercise effectively the duties and powers conferred upon the power holder the court determines that removal of the power holder best serves the interests of the beneficiaries.(4) There has been a substantial change of circumstances, the court finds that removal of the power holder best serves the interests of all of the beneficiaries and is consistent with a material purpose of the trust, and a suitable successor power holder is available.(c) Pending a final decision on a request to remove a power holder, or in lieu of or in addition to removing a power holder, the court may order appropriate relief under G.S. 36C-10-1001(b) as may be necessary to protect the trust property or the interests of the beneficiaries.  (2012-18, s. 3.4.)
NC Gen Stat § 36C-8A-12 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions.|§ 36C-8A-12 - Power holder's bond.

 36C-8A-12. Power holder's bond.(a) A bond shall be required for the performance of the power holder's duty only if the terms of a trust require the power holder to provide a bond.(b) If no bond is required, the provisions of G.S. 36C-7-702(a)(3) and (4) applicable to a trustee apply to the power holder, but in no event shall a bond be required of a power holder if the terms of a trust require otherwise.(c) If a bond is required, the provisions of G.S. 36C-7-702(b) and (c) applicable to a trustee apply to the power holder.  (2021-85, s. 2(c).)
NC Gen Stat § 36C-8B-1 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-1 - Short title.

 36C-8B-1. Short title.This Article shall be known and may be cited as the North Carolina Uniform Trust Decanting Act.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-2 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-2 - Definitions.

 36C-8B-2. Definitions.The following definitions apply to this Article, unless the context clearly requires otherwise:(1) Authorized fiduciary. - A trustee or other fiduciary, other than a settlor, that has discretion to distribute or direct a trustee to distribute part or all of the principal of the first trust to one or more current beneficiaries. The term also includes a special fiduciary appointed under G.S. 36C-8B-9 or a special-needs fiduciary under G.S. 36C-8B-13.(2) Current beneficiary. - A beneficiary that, on the date the beneficiary's qualification is determined, is a distributee or permissible distributee of trust income or principal.(3) Decanting power. - The power of an authorized fiduciary under this Article to distribute property of a first trust to one or more second trusts or to modify the terms of the first trust.(4) First trust. - A trust over which an authorized fiduciary may exercise the decanting power.(5) Second trust. - A first trust after modification pursuant to this Article or a trust to which a distribution of property from a first trust is or may be made pursuant to this Article.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-3 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-3 - Scope.

 36C-8B-3. Scope.(a) Except as otherwise provided in this section, this Article applies to an express trust that is irrevocable or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest.(b) This Article shall not apply to a trust held solely for charitable purposes as described in G.S. 36C-4-405(a).(c) Subject to G.S. 36C-8B-15, a trust instrument may restrict or prohibit exercise of the decanting power.(d) This Article shall not limit the power of a trustee, power holder, or other person to distribute or appoint property in further trust or to modify a trust under the trust instrument, law of this State other than this Article, common law, a court order, or a nonjudicial settlement agreement.(e) This Article shall not affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-4 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-4 - Fiduciary duty.

 36C-8B-4. Fiduciary duty.(a) In exercising the decanting power, an authorized fiduciary shall act in accordance with its fiduciary duties, including the duty to act in accordance with the purposes of the first trust.(b) This Article does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of this Article.(c) Except as otherwise provided in the terms of the first trust, for purposes of this Article, G.S. 36C-8-801, and G.S. 36C-8-802(a), the terms of the first trust shall be deemed to include the decanting power.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-5 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-5 - Application; governing law.

 36C-8B-5. Application; governing law.This Article shall apply to a trust that meets any of the following criteria:(1) The trust has its principal place of administration in this State, including a trust that has had its principal place of administration changed to this State.(2) The trust provides by its trust instrument that it is governed by the law of this State or is governed by the law of this State for any of the following purposes:a. Administration, including administration of a trust that has had its governing law for purposes of administration changed to this State.b. Construction of terms of the trust.c. Determination of the meaning or effect of terms of the trust.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-6 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-6 - Reasonable reliance.

 36C-8B-6. Reasonable reliance.A trustee or other person that reasonably relies on the validity of the exercise of a decanting power under this Article, law of this State other than this Article, or the exercise of a similar power under the law of this State or another jurisdiction shall not be liable to any person for any action or failure to act as a result of the reliance.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-7 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-7 - Notice; exercise of decanting power.

 36C-8B-7. Notice; exercise of decanting power.(a) Except as otherwise provided in this Article, an authorized fiduciary may exercise the decanting power without the consent of any person and without court approval.(b) Except as otherwise provided in this section, an authorized fiduciary shall give written notice of the intended exercise of the decanting power at least 60 days prior to the effective date of the exercise of the decanting power to all of the following:(1) Any settlor as to whom the second trust would be a grantor trust.(2) Each qualified beneficiary of the first trust.(3) Each person that currently has the right to remove or replace the authorized fiduciary.(4) Each other fiduciary of the first trust.(c) The notice required pursuant to subsection (b) of this section shall meet all of the following requirements:(1) Specify the manner in which the authorized fiduciary intends to exercise the decanting power.(2) Specify the proposed effective date for exercise of the power.(3) Include a copy of the first trust.(4) Include a copy of all second trusts.(d) The decanting power may be exercised before expiration of the notice period under subsection (b) of this section if all persons entitled to receive notice waive the period in a signed written instrument.(e) The receipt of notice, waiver of the notice period, or expiration of the notice period shall not affect the right of a person to file an application pursuant to G.S. 36C-8B-9 asserting any of the following:(1) An attempted exercise of the decanting power is ineffective because it did not comply with this Article or was an abuse of discretion or breach of fiduciary duty.(2) The provisions of G.S. 36C-8B-22 apply to the exercise of the decanting power.(f) An exercise of the decanting power shall not be ineffective because of the failure to give notice to one or more persons pursuant to subsection (b) of this section if the authorized fiduciary acted with reasonable care to comply with subsection (b) of this section.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-9 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-9 - Court involvement.

 36C-8B-9. Court involvement.(a) An authorized fiduciary, a beneficiary, or a person entitled to notice under G.S. 36C-8B-7(b) may commence a proceeding for any of the following purposes:(1) To approve or disapprove a proposed exercise of the authorized fiduciary's decanting power.(2) To appoint a special fiduciary to exercise the decanting power.(b) Nothing in this section shall affect the right of a person to file an action in the superior court division of the General Court of Justice for declaratory relief under Article 26 of Chapter 1 of the General Statutes, including, but not limited to, an action to determine the extent to which G.S. 36C-8B-22 applies to a prior exercise of the decanting power.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-10 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-10 - Formalities.

 36C-8B-10. Formalities.An exercise of the decanting power shall be made in a written instrument signed by an authorized fiduciary. The signed written instrument shall identify, directly or by reference to the notice required by G.S. 36C-8B-7, the first trust and the second trust or trusts and state the property of the first trust being distributed to each second trust and the property, if any, that remains in the first trust.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-15 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-15 - Trust limitation on decanting.

 36C-8B-15. Trust limitation on decanting.(a) An authorized fiduciary shall not exercise the decanting power to the extent the terms of the first trust expressly prohibit exercise of the decanting power or a power granted by State law to the fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust.(b) Exercise of the decanting power shall be subject to any restriction in the terms of the first trust that expressly applies to the exercise of the following powers:(1) The decanting power, and any such restriction contained in the terms of the first trust, shall be included in the terms of the second trust.(2) A power granted by State law to a fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust.(c) A general prohibition of the amendment or revocation of a first trust, a spendthrift clause, or a clause restraining the voluntary or involuntary transfer of a beneficiary's interest shall not preclude exercise of the decanting power.(d) Subject to subsections (a) and (b) of this section, an authorized fiduciary may exercise the decanting power under this Article even if the first trust permits the authorized fiduciary or another person to modify the terms of the first trust or to distribute part or all of the principal of the first trust to another trust.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-16 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-16 - Change in compensation.

 36C-8B-16. Change in compensation.(a) If a first trust specifies an authorized fiduciary's compensation, the fiduciary shall not exercise the decanting power to increase the fiduciary's compensation above the specified compensation unless either of the following conditions is satisfied:(1) All qualified beneficiaries of the second trust consent to the increase in a signed written instrument.(2) The increase is approved by the clerk of superior court pursuant to G.S. 36C-2-203(a)(3).(b) For the purposes of this section, a change in an authorized fiduciary's compensation which is incidental to other changes made by the exercise of the decanting power shall not be deemed an increase in the fiduciary's compensation.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-17 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-17 - Relief from liability and indemnification.

 36C-8B-17. Relief from liability and indemnification.(a) Except as otherwise provided in this section, a second trust shall not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first trust.(b) A second trust may provide for indemnification of an authorized fiduciary of the first trust or another person acting in a fiduciary capacity under the first trust for any liability or claim that would have been payable from the first trust if the decanting power had not been exercised.(c) A second trust shall not reduce fiduciary liability in the aggregate; provided, however, a second trust may divide and reallocate fiduciary powers among fiduciaries, including one or more trustees, distribution advisors, investment advisors, trust protectors, or other persons, and relieve a fiduciary from liability for an act or failure to act of another fiduciary as permitted by the laws of this State other than this Article.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-18 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-18 - Removal or replacement of authorized fiduciary.

 36C-8B-18. Removal or replacement of authorized fiduciary.An authorized fiduciary may not exercise the decanting power to modify a provision in a first trust granting another person power to remove or replace the fiduciary unless one or more of the following occur:(1) The person holding the power consents to the modification in a signed written instrument and the modification applies only to the person holding the power.(2) The person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed written instrument and the modification grants a substantially similar power to another person.(3) A court approves the modification and the modification grants a substantially similar power to another person.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-20 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-20 - Duration of second trust.

 36C-8B-20. Duration of second trust.(a) Subject to subsection (b) of this section, a second trust may have a duration that is the same as or different from the duration of the first trust.(b) To the extent that property of a second trust is attributable to property of the first trust, the property of the second trust is subject to any rules governing maximum perpetuity, accumulation, or suspension of the power of alienation which apply to property of the first trust.  (2017-121, s. 1.)
NC Gen Stat § 36C-8B-21 (2021)
2021 North Carolina General Statutes|Chapter 36C - North Carolina Uniform Trust Code|Article 8B - North Carolina Uniform Trust Decanting Act.|§ 36C-8B-21 - Need to distribute not required.

 36C-8B-21. Need to distribute not required.An authorized fiduciary may exercise the decanting power whether or not under the first trust's discretionary distribution standard the fiduciary would have made or could have been compelled to make a discretionary distribution of principal at the time of exercise.  (2017-121, s. 1.)