2014 North Carolina General Statutes
Chapter 36C - North Carolina Uniform Trust Code.
Article 10 - Liability of Trustees and Rights of Persons Dealing with Trustees.
§ 36C-10-1003 - Liability in absence of breach.
36C-10-1003. Liability in absence of breach.
(a) A trustee is accountable for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust. Nothing in this section limits a trustee's right to compensation under G.S. 36C-7-708 or payments allowed under G.S. 36C-8-802(f).
(b) Absent a breach of trust, a trustee is not liable for a loss or depreciation in the value of trust property or for not having made a profit. (2005-192, s. 2.)
Disclaimer: These codes may not be the most recent version. North Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
