There is a newer version of the North Carolina General Statutes
2009 North Carolina Code
Chapter 37A - Uniform Principal and Income Act.
§ 37A-1-104.26. Unitrust amount in excess of a five percent payout.
§ 37A‑1‑104.26. Unitrust amount in excess of a five percent payout.
A trust that provides for a fixed percentage payout in excess of five percent (5%) per year is considered an express total return unitrust that pays out a fixed percentage of five percent (5%) per year and pays out principal to the extent that the fixed percentage payout exceeds five percent (5%) per year. (2005‑244, s. 6.)
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