§ 53-421. Objection to affiliate transfer.
99 words·~1 min read·
/nc/chapter-53/53-421A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 53-421. Objection to affiliate transfer.
If a client, or a person acting on behalf of the client, delivers a written objection to the affiliate transfer to the transferring trust institution at anytime prior to the date of the affiliate transfer, the transferring trust institution shall exclude that account from the affiliate transfer unless the objection is withdrawn. An objection to an affiliate transfer shall not affect the right of the transferring trust institution to continue to administer the account or to seek to transfer the account pursuant to the documents and law governing the account. (2005-274, s. 2.)