§ 37A-1-104.26 - Unitrust amount in excess of a five percent payout.

NC Gen Stat § 37A-1-104.26 (2019) (N/A)
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37A-1-104.26. Unitrust amount in excess of a five percent payout.

A trust that provides for a fixed percentage payout in excess of five percent (5%) per year is considered an express total return unitrust that pays out a fixed percentage of five percent (5%) per year and pays out principal to the extent that the fixed percentage payout exceeds five percent (5%) per year.