§ 36C-8B-4. Fiduciary duty.
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§ 36C-8B-4. Fiduciary duty.
(a)In exercising the decanting power, an authorized fiduciary shall act in accordance with its fiduciary duties, including the duty to act in accordance with the purposes of the first trust.
(b)This Article does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of this Article.
(c)Except as otherwise provided in the terms of the first trust, for purposes of this Article, G.S. 36C-8-801, and G.S. 36C-8-802(a), the terms of the first trust shall be deemed to include the decanting power. (2017-121, s. 1.)