North Carolina Statutes

Chapter 32 Fiduciaries

Article 1 - Uniform Fiduciaries Act.

Article 2 - Security Transfers.

Article 3 - Powers of Fiduciaries.

Article 4 - Restrictions on Exercise of Power for Fiduciary's Benefit.

Article 5 - Compensation.

Article 6 - Compensation of Trustees and Other Fiduciaries.

  • § 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...
  • § 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...
  • § 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...
  • § 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)...
  • § 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,...
  • § 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...
  • § 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,...
  • § 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...
  • § 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...
  • § 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...

Article 7 - Investment and Deposit of Trust Funds.

  • § 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...
  • § 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...
  • § 32-72   Terms of creating instrument
    (a) Nothing contained in this Article shall be construed as authorizing any departure from the express terms or limitations set forth in any will, agreement,...
  • § 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...
  • § 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,...
  • § 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...
  • § 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,...