State Codes and Statutes
Statutes > North-carolina > Chapter_37A > GS_37A-1-104_5§ 37A‑1‑104.5. Matters in trustee's discretion.
In administering a totalreturn unitrust, the trustee may, in its sole discretion but subject to theprovisions of the governing instrument, determine:
(1) The effective dateof the conversion;
(2) The timing ofdistributions, including provisions for prorating a distribution for a shortyear in which a beneficiary's right to payments commences or ceases;
(3) Whetherdistributions are to be made in cash or in kind or partly in cash and partly inkind;
(4) If the trust isreconverted to an income trust, the effective date of the reconversion; and
(5) Any otheradministrative issues as may be necessary or appropriate to carry out thepurposes of this Part. (2003‑232, s. 2.)
