US Laws, Codes, Statutes & Cases

§ 36C‑4‑410.  Modification or termination of trust; proceedings for approval or disapproval.

(a)       In addition to the methods of termination prescribed by G.S. 36C‑4‑411 through G.S. 36C‑4‑414, a trust terminates to the extent that the trust is revoked or expires under its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.

(b)       A trustee or beneficiary may commence a proceeding to approve or disapprove a proposed modification or termination under G.S. 36C‑4‑411 through G.S. 36C‑4‑416, or trust combination or division under G.S. 36C‑4‑417. A settlor may commence a proceeding to approve or disapprove a proposed modification or termination under G.S. 36C‑4‑411. The settlor of a charitable trust may maintain a proceeding to modify the trust under G.S. 36C‑4‑413. A trustee is a necessary party to any proceeding under this section.

(c)       Jurisdiction of a proceeding brought under this section is as provided in G.S. 36C‑2‑203. (2005‑192, s. 2.)