reglab/statecodes huggingface dataset:
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 3 - Exercise of Power of Appointment. › § 31D-3-311 - Disposition of unappointed property under released or unexercised nongeneral power.

§ 31D-3-311. Disposition of unappointed property under released or unexercised nongeneral power.
To the extent that a power holder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment:
(1) The gift-in-default clause controls the disposition of the unappointed property.
(2) If there is no gift-in-default clause, or to the extent that the clause is ineffective, the unappointed property:
a. Passes to the permissible appointees, if both of the following apply:
1. The permissible appointees are defined and limited.
2. The terms of the instrument creating the power do not manifest a contrary intent.
b. If there is no taker under sub-subdivision a. of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 3 - Exercise of Power of Appointment. › § 31D-3-312 - Disposition of unappointed property if partial appointment to taker in default.

§ 31D-3-312. Disposition of unappointed property if partial appointment to taker in default.
Unless the terms of the instrument creating or exercising a power of appointment manifest a contrary intent, if the power holder makes a valid partial appointment to a taker in default of appointment, then the taker in default of appointment may share fully in unappointed property. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 3 - Exercise of Power of Appointment. › § 31D-3-313 - Appointment to taker in default.

§ 31D-3-313. Appointment to taker in default.
If a power holder makes an appointment to a taker in default of appointment and the appointee would have taken the property under a gift-in-default clause had the property not been appointed, then the power of appointment is deemed not to have been exercised and the appointee takes under the clause. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 3 - Exercise of Power of Appointment. › § 31D-3-314 - Power holder's authority to revoke or amend exercise.

§ 31D-3-314. Power holder's authority to revoke or amend exercise.
If the terms of an instrument creating a power of appointment do not prohibit the power holder from revoking or amending an exercise of the power, a power holder may revoke or amend the exercise of a power only if one of the following apply:
(1) The instrument creating the exercise of the power of appointment may be revoked or amended.
(2) The power holder reserves a power of revocation or amendment in the instrument exercising the power of appointment. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint. › § 31D-4-401 - Disclaimer.

§ 31D-4-401. Disclaimer.
Consistent with Chapter 31B of the General Statutes:
(1) A power holder may disclaim all or part of a power of appointment.
(2) A permissible appointee, appointee, or taker in default of appointment may disclaim all or part of an interest in appointive property. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint. › § 31D-4-402 - Authority to release.

§ 31D-4-402. Authority to release.
A power holder may release a power of appointment, in whole or in part, except to the extent that the terms of the instrument creating the power prevent the release. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint. › § 31D-4-403 - Method of release.

§ 31D-4-403. Method of release.
A power holder of a releasable power of appointment may release the power in whole or in part as follows:
(1) By substantial compliance with a method provided in the terms of the instrument creating the power.
(2) If the terms of the instrument creating the power do not provide a method or the method provided in the terms of the instrument is not expressly made exclusive, by an instrument manifesting the power holder's intent by clear and convincing evidence. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint. › § 31D-4-403.1 - Necessity for actual notice of release or limitation to bind fiduciary.

§ 31D-4-403.1. Necessity for actual notice of release or limitation to bind fiduciary.
No fiduciary having possession or control of property over which a power of appointment is exercisable shall be bound or affected by any release or limitation of such power without actual notice thereof. (1943, c. 665, s. 4; 2017-102, s. 13(c).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint. › § 31D-4-404 - Revocation or amendment of release.

§ 31D-4-404. Revocation or amendment of release.
A power holder may revoke or amend a release of a power of appointment only to the extent that one of the following applies:
(1) The instrument of release is revocable by the power holder.
(2) The power holder reserves a power of revocation or amendment in the instrument of release. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint. › § 31D-4-405 - Power to contract; presently exercisable power of appointment.

§ 31D-4-405. Power to contract; presently exercisable power of appointment.
A power holder of a presently exercisable power of appointment may contract:
(1) Not to exercise the power.
(2) To exercise the power if the contract when made does not confer a benefit on an impermissible appointee. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint. › § 31D-4-406 - Power to contract; power of appointment not presently exercisable.

§ 31D-4-406. Power to contract; power of appointment not presently exercisable.
A power holder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the power holder both:
(1) Is also the donor of the power.
(2) Has reserved the power in a revocable trust. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint. › § 31D-4-407 - Remedy for breach of contract to appoint or not to appoint.

§ 31D-4-407. Remedy for breach of contract to appoint or not to appoint.
The remedy for a power holder's breach of a contract to appoint or not to appoint appointive property is limited to damages payable out of the appointive property or, if appropriate, specific performance of the contract. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 5 - Rights of Power Holder's Creditors in Appointive Property. › § 31D-5-501 - Creditor claim; general power created by power holder.

§ 31D-5-501. Creditor claim; general power created by power holder.
(a) In this section, "power of appointment created by the power holder" includes a power of appointment created in a transfer by another person to the extent the power holder contributed value to the transfer.
(b) Appointive property subject to a general power of appointment created by the power holder is subject to a claim of a creditor of the power holder or of the power holder's estate to the extent provided in the Uniform Voidable Transactions Act, Article 3A of Chapter 39 of the General Statutes.
(c) Subject to subsection (b) of this section, appointive property subject to a general power of appointment created by the power holder is not subject to a claim of a creditor of the power holder or the power holder's estate to the extent the power holder irrevocably appointed the property in favor of a person other than the power holder or the power holder's estate.
(d) Subject to subsections (b) and (c) of this section, and notwithstanding the presence of a spendthrift provision or whether the claim arose before or after the creation of the power of appointment, appointive property subject to a general power of appointment created by the power holder is subject to a claim of a creditor of:
(1) The power holder, to the same extent as if the power holder owned the appointive property, if the power is presently exercisable.
(2) The power holder's estate, to the extent that the estate is insufficient to satisfy the claim and subject to the right of a decedent to direct the source from which liabilities are paid, if the power is exercisable at the power holder's death. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 5 - Rights of Power Holder's Creditors in Appointive Property. › § 31D-5-502 - Creditor claim; general power not created by power holder.

§ 31D-5-502. Creditor claim; general power not created by power holder.
(a) Except as otherwise provided in subsection (b) of this section, and only when and to the extent that the power holder exercises the power, appointive property subject to a general power of appointment created by a person other than the power holder is subject to a claim of a creditor of:
(1) The power holder, to the extent the power holder's property is insufficient, if the power is presently exercisable.
(2) The power holder's estate, to the extent the estate is insufficient, subject to the right of a decedent to direct the source from which liabilities are paid.
(b) Subject to the provisions of G.S. 31D-5-504(c), a power of appointment created by a person other than the power holder which is subject to an ascertainable standard relating to an individual's health, education, support, or maintenance within the meaning of section 2041(b)(1)(A) or section 2514(c)(1) of the Internal Revenue Code, as amended, is treated for purposes of this Article as a nongeneral power. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 5 - Rights of Power Holder's Creditors in Appointive Property. › § 31D-5-503 - Power to withdraw.

§ 31D-5-503. Power to withdraw.
(a) For purposes of this Article, a power to withdraw property from a trust is treated as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw.
(b) The lapse, release, or waiver of a power to withdraw property from a trust shall not be deemed to be an exercise of the power. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 5 - Rights of Power Holder's Creditors in Appointive Property. › § 31D-5-504 - Creditor claim; nongeneral power.

§ 31D-5-504. Creditor claim; nongeneral power.
(a) Except as otherwise provided in subsections (b) and (c) of this section, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the power holder or the power holder's estate.
(b) Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the power holder or the power holder's estate to the extent that the power holder owned the property and, reserving the nongeneral power, transferred the property in violation of the Uniform Voidable Transactions Act, Article 3A of Chapter 39 of the General Statutes.
(c) If the initial gift in default of appointment is to the power holder or the power holder's estate, a nongeneral power of appointment is treated for purposes of this Article as a general power. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 5 - Rights of Power Holder's Creditors in Appointive Property. › § 31D-5-505 - Requisites of release as against creditors and purchasers for value.

§ 31D-5-505. Requisites of release as against creditors and purchasers for value.
No release of a power of appointment after March 8, 1943, which is made by the owner of the legal title to real property in this State shall be valid as against creditors and purchasers for a valuable consideration until an instrument in writing setting forth the release is executed and acknowledged in the manner required for a deed and recorded in the county where the real property is. (1943, c. 665, s. 3; 2017-102, s. 13(b); 2017-212, s. 8.4(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 6 - Miscellaneous Provisions. › § 31D-6-601 - Uniformity of application and construction.

§ 31D-6-601. Uniformity of application and construction.
In applying and construing this Chapter, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 6 - Miscellaneous Provisions. › § 31D-6-602 - Relation to Electronic Signatures in Global and National Commerce Act.

§ 31D-6-602. Relation to Electronic Signatures in Global and National Commerce Act.
This Chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede section 101(c) of 15 U.S.C. § 7001(c), or authorize electronic delivery of any of the notices described in section 103(b) of 15 U.S.C. § 7003(b). (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 31D - North Carolina Uniform Powers of Appointment Act › Article 6 - Miscellaneous Provisions. › § 31D-6-603 - Application to existing relationships.

§ 31D-6-603. Application to existing relationships.
(a) Except as otherwise provided in this Chapter, on or after August, 11, 2015:
(1) This Chapter applies to a power of appointment created before, on or after August 11, 2015.
(2) This Chapter applies to a judicial proceeding concerning a power of appointment commenced on or after August 11, 2015.
(3) This Chapter applies to a judicial proceeding concerning a power of appointment commenced before August 11, 2015, unless the court finds that application of a particular provision of this Chapter would interfere substantially with the effective conduct of the judicial proceeding or prejudice a right of a party, in which case the particular provision of this Chapter does not apply and the superseded law applies.
(4) A rule of construction or presumption provided in this Chapter applies to an instrument executed before August 11, 2015, unless there is a clear indication of a contrary intent in the terms of the instrument or unless application of that rule of construction or presumption would impair substantial rights of a party created under North Carolina law in effect prior to August 11, 2015, in which case that rule of construction or presumption does not apply and the superseded rule of construction or presumption applies.
(5) Except as otherwise provided in subdivisions (1) through (4) of this subsection, an action taken before August 11, 2015, is not affected by this Chapter.
(b) If a right is acquired, extinguished, or barred on the expiration of a prescribed period that commenced under law of this State other than this Chapter before August 11, 2015, the law continues to apply to the right. (2015-205, s. 3(a).)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-1 - Short title.

§ 32-1. Short title.
This Article may be cited as the Uniform Fiduciaries Act. (1923, c. 85, s. 14; C.S., s. 1864(d); 1965, c. 628, s. 2.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-2 - Definition of terms.

§ 32-2. Definition of terms.
(a) In this Article unless the context or subject matter otherwise requires:
"Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking.
"Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate.
"Person" includes a corporation, partnership, or other association, or two or more persons having a joint or common interest.
"Principal" includes any person to whom a fiduciary as such owes an obligation.
(b) A thing is done "in good faith" within the meaning of this Article when it is in fact done honestly, whether it be done negligently or not. (1923, c. 85, s. 1; C.S., s. 1864(e); 1965, c. 628, s. 2.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-3 - Application of payments made to fiduciaries.

§ 32-3. Application of payments made to fiduciaries.
A person who in good faith pays or transfers to a fiduciary any money or other property, which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary; and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary. (1923, c. 85, s. 2; C.S., s. 1864(f).)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-5 - Transfer of negotiable instrument by fiduciary.

§ 32-5. Transfer of negotiable instrument by fiduciary.
If any negotiable instrument payable or indorsed to a fiduciary as such is indorsed by a fiduciary, or if any negotiable instrument payable or indorsed to his principal is indorsed by a fiduciary empowered to indorse such instrument on behalf of his principal, the indorsee is not bound to inquire whether the fiduciary is committing a breach of his obligation as fiduciary in indorsing or delivering the instrument, and is not chargeable with notice that the fiduciary is committing a breach of his obligation as fiduciary unless he takes the instrument with actual knowledge of such breach or with knowledge of such facts that his action in taking the instrument amounts to bad faith. If, however, such instrument is transferred by the fiduciary in payment of or as security for a personal debt of the fiduciary to the actual knowledge of the creditor, or is transferred in any transaction known by the transferee to be for the personal benefit of the fiduciary, the creditor or other transferee is liable to the principal if the fiduciary in fact commits a breach of his obligation as fiduciary in transferring the instrument. (1923, c. 85, s. 4; C.S., s. 1864(h).)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-6 - Check drawn by fiduciary payable to third person.

§ 32-6. Check drawn by fiduciary payable to third person.
If a check or other bill of exchange is drawn by a fiduciary as such, or in the name of his principal by a fiduciary empowered to draw such instrument in the name of his principal, the payee is not bound to inquire whether the fiduciary is committing a breach of his obligation as fiduciary in drawing or delivering the instrument, and is not chargeable with notice that the fiduciary is committing a breach of his obligation as fiduciary unless he takes the instrument with actual knowledge of such breach or with knowledge of such facts that his action in taking the instrument amounts to bad faith. If, however, such instrument is payable to a personal creditor of the fiduciary and delivered to the creditor in payment of or as security for a personal debt of the fiduciary to the actual knowledge of the creditor, or is drawn and delivered in any transaction known by the payee to be for the personal benefit of the fiduciary, the creditor or other payee is liable to the principal if the fiduciary in fact commits a breach of his obligation as fiduciary in drawing or delivering the instrument. (1923, c. 85, s. 5; C.S., s. 1864(i).)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-7 - Check drawn by and payable to fiduciary.

§ 32-7. Check drawn by and payable to fiduciary.
If a check or other bill of exchange is drawn by a fiduciary as such or in the name of his principal by a fiduciary empowered to draw such instrument in the name of his principal, payable to the fiduciary personally, or payable to a third person and by him transferred to the fiduciary, and is thereafter transferred by the fiduciary, whether in payment of a personal debt of the fiduciary or otherwise, the transferee is not bound to inquire whether the fiduciary is committing a breach of his obligation as fiduciary in transferring the instrument, and is not chargeable with notice that the fiduciary is committing a breach of his obligation as fiduciary unless he takes the instrument with actual knowledge of such breach or with knowledge of such facts that his action in taking the instrument amounts to bad faith. (1923, c. 85, s. 6; C.S., s. 1864(j).)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-8 - Deposit in name of fiduciary as such.

§ 32-8. Deposit in name of fiduciary as such.
If a deposit is made in a bank to the credit of a fiduciary as such, the bank is authorized to pay the amount of the deposit or any part thereof upon the check of the fiduciary, signed with the name in which such deposit is entered, without being liable to the principal, unless the bank pays the check with actual knowledge that the fiduciary is committing a breach of his obligation as fiduciary in drawing the check or with knowledge of such facts that its action in paying the check amounts to bad faith.
If, however, such a check is payable to the drawee bank and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank is liable to the principal if the fiduciary in fact commits a breach of his obligation as fiduciary in drawing or delivering the check. (1923, c. 85, s. 7; C.S., s. 1864(k).)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-9 - Deposit in name of principal.

§ 32-9. Deposit in name of principal.
If a check is drawn upon the account of his principal in a bank by a fiduciary who is empowered to draw checks upon his principal's account, the bank is authorized to pay such check without being liable to the principal, unless the bank pays the check with actual knowledge that the fiduciary is committing a breach of his obligation as fiduciary in drawing such check, or with knowledge of such facts that its action in paying the check amounts to bad faith. If, however, such a check is payable to the drawee bank and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank is liable to the principal if the fiduciary in fact commits a breach of his obligation as fiduciary in drawing or delivering the check. (1923, c. 85, s. 8; C.S., s. 1864(l).)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-10 - Deposit in fiduciary's personal account.

§ 32-10. Deposit in fiduciary's personal account.
If a fiduciary makes a deposit in a bank to his personal credit of checks drawn by him upon an account in his own name as fiduciary or of checks payable to him as fiduciary or of checks drawn by him upon an account in the name of his principal if he is empowered to draw checks thereon, or checks payable to his principal and indorsed by him, if he is empowered to indorse such checks, or if he otherwise makes a deposit of funds held by him as fiduciary, the bank receiving such deposit is not bound to inquire whether the fiduciary is committing thereby a breach of his obligation as fiduciary; and the bank is authorized to pay the amount of the deposit or any part thereof upon the personal check of the fiduciary without being liable to the principal, unless the bank receives the deposit or pays the check with actual knowledge that the fiduciary is committing a breach of his obligation as fiduciary in making such deposit or in drawing such check, or with knowledge of such facts that its action in receiving the deposit or paying the check amounts to bad faith. (1923, c. 85, s. 9; C.S., s. 1864(m).)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-11 - Deposit in names of two or more trustees.

§ 32-11. Deposit in names of two or more trustees.
When a deposit is made in a bank in the name of two or more persons as trustees and a check is drawn upon the trust account by any trustee or trustees authorized by the other trustee or trustees to draw checks upon the trust account, neither the payee nor other holder nor the bank is bound to inquire whether it is a breach of trust to authorize such trustee or trustees to draw checks upon the trust account, and is not liable unless the circumstances be such that the action of the payee or other holder or the bank amounts to bad faith. (1923, c. 85, s. 10; C.S., s. 1864(n).)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-12 - Cases not provided for in Article.

§ 32-12. Cases not provided for in Article.
In any case not provided for in this Article the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments and banking, shall continue to apply. (1923, c. 85, s. 12; C.S., s. 1864(p); 1965, c. 628, s. 2.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 1 - Uniform Fiduciaries Act. › § 32-13 - Uniformity of interpretation.

§ 32-13. Uniformity of interpretation.
This Article shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it. (1923, c. 85, s. 13; C.S., s. 1864(q); 1965, c. 628, s. 2.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 3 - Powers of Fiduciaries. › § 32-25 - Definition.

§ 32-25. Definition.
As used in this Article, the term "fiduciary" means the one or more executors of the estate of a decedent, or the one or more trustees of a testamentary or inter vivos trust estate, whichever in a particular case shall be appropriate. (1965, c. 628, s. 1.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 3 - Powers of Fiduciaries. › § 32-26 - Incorporation by reference of powers enumerated in § 32-27; restriction on exercise of such powers.

§ 32-26. Incorporation by reference of powers enumerated in § 32-27; restriction on exercise of such powers.
(a) By an express intention of the testator or settlor so to do contained in a will, or in an instrument in writing whereby a trust estate is created inter vivos, any or all of the powers or any portion thereof enumerated in G.S. 32-27, as they exist at the time of the signing of the will by the testator or at the time of the signing by the first settlor who signs the trust instrument, may be, by appropriate reference made thereto, incorporated in such will or other written instrument, with the same effect as though such language were set forth verbatim in the instrument. Incorporation of one or more of the powers contained in G.S. 32-27 by reference to that section shall be in addition to and not in limitation of the common law or statutory powers of the fiduciary.
(b) No power of authority conferred upon a fiduciary as provided in this Article shall be exercised by such fiduciary in such a manner as, in the aggregate, to deprive the trust or the estate involved of an otherwise available tax exemption, deduction or credit, expressly including the marital deduction, or operate to impose a tax upon a donor or testator or other person as owner of any portion of the trust or estate involved. "Tax" includes, but is not limited to, any federal, State, or local income, gift, estate or inheritance tax.
(c) Nothing herein shall be construed to prevent the incorporation of the powers enumerated in G.S. 32-27 in any other kind of instrument or agreement. (1965, c. 628, s. 1.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 6 - Compensation of Trustees and Other Fiduciaries. › § 32-53 - Definitions.

§ 32-53. Definitions.
The following definitions apply in this Article:
(1) Legal disability. – A person under a legal disability is a person who is a minor, incompetent, or unborn individual, or whose identity or location is unknown.
(2) Qualified beneficiary. – As defined in G.S. 36C-1-103(15). With respect to a charitable trust defined in G.S. 36C-1-103(4), the term includes (i) a charitable organization described in G.S. 36C-1-110 as having the rights of a qualified beneficiary; or (ii) if there is no such charitable organization, the Attorney General.
(3) Representative. – A person who may represent and bind another as provided in Article 3 of Chapter 36C of the General Statutes, the provisions of which shall apply for purposes of this Article.
(4) Trust. – A trust to which Chapter 36C of the General Statutes applies as provided in G.S. 36C-1-102. (2004-139, s. 2; 2007-106, s. 38.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 6 - Compensation of Trustees and Other Fiduciaries. › § 32-54 - Compensation of trustees.

§ 32-54. Compensation of trustees.
(a) If the terms of the trust do not specify the trustee's compensation, the trustee is entitled to receive from the assets of the trust compensation that is reasonable under the circumstances.
(b) All of the following factors shall be considered in determining reasonableness of compensation:
(1) The degree of difficulty and novelty of the tasks required of the trustee.
(2) The responsibilities and risks involved.
(3) The amount and character of the trust assets.
(4) The skill, experience, expertise, and facilities of the trustee.
(5) The quality of the trustee's performance.
(6) Comparable charges for similar services.
(7) Time devoted to administering the trust.
(8) Time constraints imposed upon the trustee in administering the trust.
(9) Nature and costs of services delegated to others by the trustee.
(10) Where more than one trustee is serving, the reasonableness of the total fees paid to all trustees.
(11) Other factors which the trustee or the clerk of superior court deems to be relevant. (2004-139, s. 2.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 6 - Compensation of Trustees and Other Fiduciaries. › § 32-55 - Notice.

§ 32-55. Notice.
(a) If the terms of the trust do not specify the trustee's compensation, the trustee may, in the trustee's discretion, give written notice to all qualified beneficiaries of each proposed payment of compensation if the annual amount of compensation exceeds four-tenths of one percent (4/10 of 1%) of the principal value of the assets of the trust on the last day of the trust accounting year.
(b) In lieu of giving written notice of each proposed payment of compensation under subsection (a) of this section, the trustee may give written notice to all qualified beneficiaries of the amount of compensation to be paid to the trustee on a periodic basis or of the method of computation of the compensation. The trustee shall not be required to give additional notice to the qualified beneficiaries unless the amount to be paid to the trustee on a periodic basis or the method of computation of the compensation changes.
(c) If a qualified beneficiary is under a legal disability, notice shall be given to the representative of the beneficiary. If a representative of a qualified beneficiary is not available without court order, notice shall be deemed given under this section if there is at least (i) one qualified beneficiary described in G.S. 36C-1-103(15)a. or b. who is not under a legal disability or a representative of a qualified beneficiary so described; and (ii) one qualified beneficiary described in G.S. 36C-1-103(15)c. who is not under a legal disability or a representative of a qualified beneficiary so described.
(c1) The notice provided for in this section shall contain a statement that the qualified beneficiaries or their representatives to whom the notice is given have 20 days from when notice is given to file a proceeding for review of the reasonableness of the compensation with the clerk of superior court in accordance with Article 2 of Chapter 36C of the General Statutes.
(d) The provisions of G.S. 36C-1-109 regarding notices to persons under Chapter 36C of the General Statutes shall apply for purposes of notices under this Article. (2004-139, s. 2; 2006-259, s. 13(m); 2007-106, s. 39; 2011-339, s. 1.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 6 - Compensation of Trustees and Other Fiduciaries. › § 32-56 - Payment of compensation without court order.

§ 32-56. Payment of compensation without court order.
The trustee is authorized to pay the compensation provided for in G.S. 32-54 without prior approval of the clerk of superior court only if:
(1) The annual amount of compensation does not exceed four-tenths of one percent (4/10 of 1%) of the principal value of the assets of the trust on the last day of the trust accounting year; or
(2) Notice has been given pursuant to G.S. 32-55 and no qualified beneficiary or representative of a qualified beneficiary has initiated a proceeding under G.S. 32-57 for review of the reasonableness of the compensation within 20 days after notice has been given by the trustee in accordance with G.S. 32-55. (2004-139, s. 2; 2007-106, s. 40.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 6 - Compensation of Trustees and Other Fiduciaries. › § 32-57 - Judicial review; payment of compensation and other payments with court order.

§ 32-57. Judicial review; payment of compensation and other payments with court order.
(a) If the terms of the trust do not specify the trustee's compensation, the trustee or any qualified beneficiary, or representative of a qualified beneficiary, may initiate a proceeding under Article 2 of Chapter 36C of the General Statutes for review of the reasonableness of any compensation or expense reimbursement and for the approval or denial of the payment of compensation or expense reimbursement. A beneficiary may initiate a proceeding even though the 20-day period referred to in G.S. 32-56(2) has expired.
(b) In connection with reviewing the reasonableness of any compensation or expense reimbursement, the clerk of superior court may order the trustee to make appropriate refunds if the clerk determines upon review that a trustee has received excessive compensation or expense reimbursement. (2004-139, s. 2; 2006-259, s. 13(n); 2007-106, s. 41.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 6 - Compensation of Trustees and Other Fiduciaries. › § 32-58 - Reimbursement for expenses incurred.

§ 32-58. Reimbursement for expenses incurred.
In addition to the compensation referred to in G.S. 32-54, the trustee shall be entitled to reimbursement out of the assets of the trust for expenses properly incurred or advanced in the administration of the trust and shall be empowered to pay the expenses from the assets of the trust without prior approval of the clerk of superior court. The court may allow reimbursement of other expenses incurred or advanced to which the trustee is entitled in equity and good conscience. The trustee shall have a lien on trust property to secure reimbursement, with reasonable interest, of expenses owed under this section. (2004-139, s. 2; 2007-106, s. 42.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 6 - Compensation of Trustees and Other Fiduciaries. › § 32-59 - Compensation of other fiduciaries.

§ 32-59. Compensation of other fiduciaries.
Unless otherwise provided by the General Statutes or by the instrument creating the fiduciary relationship, fiduciaries other than trustees under a trust shall be entitled, upon written request to the clerk of superior court, to reasonable compensation in an amount to be determined by the clerk after taking into consideration the factors set forth in G.S. 32-54(b) and to reimbursement for expenses properly incurred in the administration of the fiduciary relationship. (2004-139, s. 2.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 6 - Compensation of Trustees and Other Fiduciaries. › § 32-60 - Effect of provisions in instrument.

§ 32-60. Effect of provisions in instrument.
In those instances where the instrument creating the trust or other fiduciary relationship provides that the compensation of the fiduciary shall be the amount "provided by law", the "maximum amount provided by law", or other similar language, or references former G.S. 32-50, this language shall be construed as an intention that the trustee or other fiduciary shall receive reasonable compensation as allowed under this Article. In those instances where the instrument creating the trust or other fiduciary relationship provides that the trustee or other fiduciary shall serve without compensation, this language shall be construed as being a provision relating to compensation, and the trustee or other fiduciary shall not be entitled to receive reasonable compensation as allowed under this Article. (2004-139, s. 2.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 6 - Compensation of Trustees and Other Fiduciaries. › § 32-61 - Counsel fees allowable to attorneys serving as fiduciaries.

§ 32-61. Counsel fees allowable to attorneys serving as fiduciaries.
The clerk of superior court may exercise discretion to allow counsel fees to an attorney serving as a fiduciary or trustee (in addition to the compensation allowed to the attorney as a fiduciary or trustee) where the attorney, on behalf of the trust or fiduciary relationship, renders professional services as an attorney that are different from the services normally performed by a fiduciary or trustee and of a type which would reasonably justify the retention of legal counsel by a fiduciary or trustee who is not licensed to practice law. (2004-139, s. 2.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 6 - Compensation of Trustees and Other Fiduciaries. › § 32-62 - Applicability.

§ 32-62. Applicability.
Regardless of when the trust or fiduciary relationship is created, the provisions of this Article shall apply to all payments made to a fiduciary after January 1, 2005, including payments for compensation earned prior to January 1, 2005. (2004-139, s. 2.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 7 - Investment and Deposit of Trust Funds. › § 32-70 - Definition.

§ 32-70. Definition.
(a) For the purpose of this Article, the word "fiduciary" shall be construed to include a guardian, personal representative, collector, trustee, or any other person charged with the duty of acting for the benefit of another party as to matters coming within the scope of the relationship between them.
(b) As used in subsection (a) above, the word "person" shall be construed to include an individual, a corporation, or any legal or commercial entity authorized to hold property or do business in the State of North Carolina. (1977, c. 502, s. 2; 2005-192, s. 1.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 7 - Investment and Deposit of Trust Funds. › § 32-71 - Investment; prudent person rule.

§ 32-71. Investment; prudent person rule.
(a) In acquiring, investing, reinvesting, exchanging, retaining, selling, and managing property for the benefit of another, a fiduciary shall observe the standard of judgment and care under the circumstances then prevailing, which an ordinarily prudent person of discretion and intelligence, who is a fiduciary of the property of others, would observe as such fiduciary; and if the fiduciary has special skills or is named a fiduciary on the basis of representations of special skills or expertise, he is under a duty to use those skills. This subsection and subsection (b) of this section do not apply to trusts governed by Article 9 of Chapter 36C of the General Statutes.
(b) Within the limitations of the foregoing standard, a fiduciary is authorized to acquire and retain every kind of property and every kind of investment, including specifically, but without in any way limiting the generality of the foregoing, bonds, debentures, and other corporate or governmental obligations; stocks, preferred or common; real estate mortgages; shares in building and loan associations or savings and loan associations; annual premium or single premium life, endowment, or annuity contracts; and securities of any management type investment company or investment trust registered under the Federal Investment Company Act of 1940, as from time to time amended.
(c),(d) Repealed by Session Laws 2007-106, s. 43, effective October 1, 2007. (1870-1, c. 197; Code, s. 1594; 1885, c. 389; 1889, c. 470; Rev., ss. 1792, 1793; 1917, c. 6, s. 9; c. 67, s. 1; c. 152, s. 7; c. 191, s. 1; c. 269, s. 5; C.S., ss. 4018, 4018(a), 4019; Ex. Sess. 1921, c. 63; 1931, c. 257; 1933, c. 549, s. 1; 1935, c. 449; 1937, c. 14; 1943, c. 96; c. 473, ss. 1-3; 1945, c. 713; 1953, c. 620; 1959, c. 364, s. 2; c. 1015, s. 2; 1969, c. 861; 1971, c. 528, s. 34; c. 864, s. 17; 1973, c. 239, s. 1; 1975, cc. 40, 319; 1977, c. 502, s. 2; 1995, c. 153, s. 1; 1999-215, s. 2; 2005-192, s. 1; 2006-259, s. 13(o); 2007-106, s. 43.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 7 - Investment and Deposit of Trust Funds. › § 32-73 - Power of court not restricted.

§ 32-73. Power of court not restricted.
Nothing contained in this Article shall be construed as restricting the power of a court of proper jurisdiction to permit a fiduciary to deviate from the terms of any will, agreement, or other instrument relating to the acquisition, investment, reinvestment, exchange, retention, sale, or management of fiduciary property. (1977, c. 502, s. 2; 2005-192, s. 1.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 7 - Investment and Deposit of Trust Funds. › § 32-74 - Applicability of provisions.

§ 32-74. Applicability of provisions.
This Article shall govern fiduciaries acting under wills, agreements, court orders, and other instruments now existing or hereafter made. (1977, c. 502, s. 2; 2005-192, s. 1.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 7 - Investment and Deposit of Trust Funds. › § 32-75 - Employee trusts.

§ 32-75. Employee trusts.
Pension, profit sharing, stock bonus, annuity, or other employee trusts established for the purpose of distributing the income and principal thereof to some or all of their employees, or the beneficiaries of such employees, shall not be invalid as violating any laws or rules against perpetuities, restraints on the power of alienation of title to property, or the accumulation of income; but such trusts may continue for such period of time as may be required by the provisions thereof to accomplish the purpose for which they were established. (1954, c. 8; 1977, c. 502, s. 2; 2005-192, s. 1.)
2023 North Carolina General Statutes › Chapter 32 - Fiduciaries › Article 7 - Investment and Deposit of Trust Funds. › § 32-76 - Applicability.

§ 32-76. Applicability.
The provisions of this Article shall apply to fiduciary relationships in existence on January 1, 1978, or thereafter established. (1977, c. 502, s. 2; 2005-192, s. 1.)
2023 North Carolina General Statutes › Chapter 32A - Powers of Attorney › Article 3 - Health Care Powers of Attorney. › § 32A-15 - General purpose of this Article.

§ 32A-15. General purpose of this Article.
(a) The General Assembly recognizes as a matter of public policy the fundamental right of an individual to control the decisions relating to his or her medical care, and that this right may be exercised on behalf of the individual by an agent chosen by the individual.
(b) The purpose of this Article is to establish an additional, nonexclusive method for an individual to exercise his or her right to give, withhold, or withdraw consent to medical treatment, including mental health treatment, when the individual lacks sufficient understanding or capacity to make or communicate health care decisions.
(c) This Article is intended and shall be construed to be consistent with the provisions of Article 23 of Chapter 90 of the General Statutes provided that in the event of a conflict between the provisions of this Article and Article 23 of Chapter 90, the provisions of Article 23 of Chapter 90 control. No conflict between these Chapters exists when either a health care power of attorney or a declaration provides that the declaration is subject to decisions of a health care agent. If no declaration has been executed by the principal as provided in G.S. 90-321 that expressly covers the principal's present condition and if the health care agent has been given the specific authority in a health care power of attorney to authorize the withholding or discontinuing of life-prolonging measures when the principal is in such condition, the measures may be withheld or discontinued as provided in the health care power of attorney upon the direction and under the supervision of the attending physician, as G.S. 90-322 shall not apply in such case. Nothing in this Article shall be construed to authorize any affirmative or deliberate act or omission to end life other than to permit the natural process of dying.
(d) This Article is intended and shall be construed to be consistent with the provisions of Part 3A of Article 16 of Chapter 130A of the General Statutes. In the event of a conflict between the provisions of this Article and Part 3A of Article 16 of Chapter 130A, the provisions of Part 3A of Article 16 of Chapter 130A control. (1991, c. 639, s. 1; 1993, c. 523, s. 1; 1998-198, s. 1; 1998-217, s. 53; 2007-502, s. 1; 2008-153, s. 4.)
2023 North Carolina General Statutes › Chapter 32A - Powers of Attorney › Article 3 - Health Care Powers of Attorney. › § 32A-16.1 - Health care powers of attorney executed during state of emergency.

§ 32A-16.1. Health care powers of attorney executed during state of emergency.
(a) The requirement of G.S. 32A-16(3) that a health care power of attorney be executed in the presence of two qualified witnesses shall be waived for all instruments executed on or after the effective date of this section and prior to termination of the state of emergency declared by Governor Roy Cooper in Executive Order No. 116, on March 10, 2020, as the same may be extended by any subsequent executive order, such that an instrument that is signed by the principal, properly acknowledged before a notary public, and otherwise executed in compliance with the provisions of this Article shall not be invalidated by the principal's failure to execute the health care power of attorney in the presence of two qualified witnesses.
(b) Health care powers of attorney executed without two qualified witnesses during the time period defined in subsection (a) of this section shall contain a short and plain statement indicating that the instrument was executed in accordance with the procedures of this section.
(c) This section shall expire at 12:01 A.M. on August 1, 2020; provided, however, all instruments made in accordance with this section and while this section is in effect shall remain effective and shall not need to be reaffirmed. (2020-3, s. 4.10(b).)