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Code · North Carolina · Chapter 37A — Uniform Principal and Income Act

§ 37A-1-104.6. No effect on principal distributions.

56 words·~1 min read·/nc/chapter-37a/37a-1-104-6

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§ 37A-1-104.6. No effect on principal distributions.
Conversion to a total return unitrust under this Part shall not affect any other provision of the governing instrument, if any, regarding distributions of principal. For purposes of this Part, the distribution of a unitrust amount is considered a distribution of income and not of principal. (2003-232, s. 2.)
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