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.
N.C. Gen. Stat. § 36C-8B-21
Need to distribute not required
Known as the North Carolina Uniform Trust Decanting Act
The act spans §§ 36C-8B-1 to 36C-8B-9 (30 sections).
2017-121, s. 1.
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.