N.C. Gen. Stat. § 33B-22
Limitation on value of custodial trust property
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
Transfers or declarations of property to the corpus of a custodial trust under this act shall not exceed in the aggregate one hundred thousand dollars ($100,000) in value, exclusive of the value of the transferor's or declarant's personal residence. This limitation shall not apply to any appreciation in the value of the corpus held in the custodial trust. A good faith violation of this section shall not invalidate a custodial trust.
Transfers or declarations of property to the corpus of a custodial trust under this act shall not exceed in the aggregate one hundred thousand dollars ($100,000) in value, exclusive of the value of the transferor’s or declarant’s personal residence. This limitation shall not apply to any appreciation in the value of the corpus held in the custodial trust. A good faith violation of this section shall not invalidate a custodial trust.
History
(1995, c. 486, s. 1.)
NORTH CAROLINA COMMENTARY
This section, which was added by the General Assembly, has no counterpart in the Uniform Act.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.