There is a newer version of the North Carolina General Statutes
2009 North Carolina Code
Chapter 37A - Uniform Principal and Income Act.
§ 37A-1-104.6. No effect on principal distributions.
§ 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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