§ 37A-1-104.6 - No effect on principal distributions.

NC Gen Stat § 37A-1-104.6 (2019) (N/A)
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37A-1-104.6. No effect on principal distributions.

Conversion to a total return unitrust under this Part shall not affect any other provision of the governing instrument, if any, regarding distributions of principal. For purposes of this Part, the distribution of a unitrust amount is considered a distribution of income and not of principal.