2010 North Carolina Code
Chapter 36C North Carolina Uniform Trust Code.
Article 5 - Creditors' Claims; Spendthrift and Discretionary Trusts.
36C-5-508. Protective trusts.
36C‑5‑508. Protective trusts.
Except with respect to an interest retained by the settlor, a "protective trust interest" means an interest in a trust in which the terms of the trust provide that the interest terminates or becomes discretionary if:
(1) The beneficiary alienates or attempts to alienate that interest; or
(2) Any creditor attempts to reach the beneficiary's interest by attachment, levy, or otherwise; or
(3) The beneficiary becomes insolvent or bankrupt. (2005‑192, s. 2.)
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