State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_32 > GS_32-2

§32‑2.  Definition of terms.

(a)        In this Articleunless the context or subject matter otherwise requires:

"Bank" includes anyperson or association of persons, whether incorporated or not, carrying on thebusiness of banking.

"Fiduciary" includesa trustee under any trust, expressed, implied, resulting or constructive,executor, administrator, guardian, conservator, curator, receiver, trustee inbankruptcy, assignee for the benefit of creditors, partner, agent, officer of acorporation, public or private, public officer, or any other person acting in afiduciary capacity for any person, trust or estate.

"Person" includes acorporation, partnership, or other association, or two or more persons having ajoint or common interest.

"Principal" includesany person to whom a fiduciary as such owes an obligation.

(b)        A thing is done"in good faith" within the meaning of this Article when it is in factdone honestly, whether it be done negligently or not. (1923,c. 85, s. 1; C.S., s. 1864(e); 1965, c. 628, s. 2.)