N.C. Gen. Stat. § 36C-10-1003
Liability in absence of breach
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) A trustee is accountable for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust. Nothing in this section limits a trustee's right to compensation under G.S. 36C-7-708 or payments allowed under G.S. 36C-8-802(f).
(1) A trustee is accountable for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust. Nothing in this section limits a trustee’s right to compensation under G.S. 36C-7-708 or payments allowed under G.S. 36C-8-802(f).
(2) Absent a breach of trust, a trustee is not liable for a loss or depreciation in the value of trust property or for not having made a profit.
(2) Absent a breach of trust, a trustee is not liable for a loss or depreciation in the value of trust property or for not having made a profit.
History
(2005-192, s. 2.)
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.