2009 North Carolina Code
Chapter 53 - Banks.
§ 53-40. Executors, trustees, etc., not personally liable.
§ 53‑40. Executors, trustees, etc., not personally liable.
Persons holding stock as executors, administrators, guardians, or trustees shall not personally be subject to any liabilities as stockholders, but the estate and funds in their hands shall be liable in like manner and to the same extent as the testator, intestate, ward, or person interested in such trust fund would be if living and competent to hold stock in his own name. (1921, c. 4, s. 23; C.S., s. 219(c).)
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