§ 33B-8. General powers of custodial trustee.
73 words·~1 min read·
/nc/chapter-33b/33b-8A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 33B-8. General powers of custodial trustee.
(a)A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.
(b)This section does not relieve a custodial trustee from liability for a violation of G.S. 33B-7. (1995, c. 486, s. 1.)