North Carolina General Assembly
NC General Statutes
Chapter 37A - Uniform Principal and Income Act.
The Statutes on the North Carolina General Assembly website reflect changes made in the
legislative session, through 7/30/2016.
§ 37A-1-101. Short title.
§ 37A-1-102. Definitions.
§ 37A-1-103. Fiduciary duties; general principles.
§ 37A-1-104. Trustee's power to adjust.
§ 37A-1-104.1. Definitions.
§ 37A-1-104.2. Conversion in trustee's discretion without court approval.
§ 37A-1-104.3. Conversion with court approval.
§ 37A-1-104.4. Determination of unitrust amount.
§ 37A-1-104.5. Matters in trustee's discretion.
§ 37A-1-104.6. No effect on principal distributions.
§ 37A-1-104.7: Repealed by Session Laws 2007-106, s. 49.1, effective October 1, 2007.
§ 37A-1-104.8. No liability on part of trustee or disinterested person acting in good faith.
§ 37A-1-104.9. Applicability.
§ 37A-1-104.21. Definitions.
§ 37A-1-104.22. Determination of unitrust amount.
§ 37A-1-104.23. Effect of distribution of unitrust amount.
§ 37A-1-104.24. Change or conversion of unitrust amount.
§ 37A-1-104.25. Determination of character of unitrust amount.
§ 37A-1-104.26. Unitrust amount in excess of a five percent payout.
§ 37A-1-105. Judicial control of discretionary power.
§ 37A-2-201. Determination and distribution of net income.
§ 37A-2-202. Distribution to residuary and remainder beneficiaries.
§ 37A-3-301. When right to income begins and ends.
§ 37A-3-302. Apportionment of receipts and disbursements when decedent dies or income interest begins.
§ 37A-3-303. Apportionment when income interest ends.
§ 37A-4-401. Character of receipts.
§ 37A-4-402. Distribution from trust or estate.
§ 37A-4-403. Business and other activities conducted by trustee.
§ 37A-4-404. Principal receipts.
§ 37A-4-405. Rental property.
§ 37A-4-406. Obligation to pay money.
§ 37A-4-407. Insurance policies and similar contracts.
§ 37A-4-408. Insubstantial allocations not required.
§ 37A-4-409. Deferred compensation, annuities, and similar payments.
§ 37A-4-410. Liquidating asset.
§ 37A-4-411. Minerals, water, and other natural resources.
§ 37A-4-412. Timber.
§ 37A-4-413. Property not productive of income.
§ 37A-4-414. Derivatives and options.
§ 37A-4-415. Asset-backed securities.
§ 37A-5-501. Disbursements from income.
§ 37A-5-502. Disbursements from principal.
§ 37A-5-503. Transfers from income to principal for depreciation.
§ 37A-5-504. Transfers from income to reimburse principal.
§ 37A-5-505. Income taxes.
§ 37A-5-506. Adjustments between principal and income because of taxes.
§ 37A-6-601. Uniformity of application and construction.
§ 37A-6-602. Severability clause.