The distribution from an express total return unitrust of the fixed percentage of not less than three percent (3%) nor more than five percent (5%) reasonably apportions between the income beneficiaries and remaindermen the total return of an express total return unitrust.
N.C. Gen. Stat. § 37A-1-104.23
Effect of distribution of unitrust amount
Known as the Uniform Principal and Income Act
The act spans §§ 37A-1-101 to 37A-1-105 (19 sections).
2005-244, s. 6.
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.