North Carolina § 36C-2-208 - Accounting to clerk.

§ 36C-2-208. Accounting to clerk.

No trustee, including a trustee appointed by the clerk of superior court, is required to account to the clerk of superior court unless the trust instrument directs that the trustee is required to account to the clerk of superior court or unless the trustee is otherwise required by law to account to the clerk of superior court. If the trustee is required to account to the clerk of superior court, the trustee shall not be permitted to resign as trustee until a final account of the trust estate is filed with the clerk of superior court and until the court is satisfied that the account is true and correct, unless the terms of the trust instrument provide otherwise. Notwithstanding subsections (a) and (b) of this section, under a proceeding brought under G.S. 36C-4-405.1, the clerk of superior court may require a trustee of a charitable trust to account to the clerk of superior court. History (1911, c. 39, s. 6; C.S., s. 4029; 1977, c. 502, s. 2; 2001-413, s. 1; 2003-261, s. 4; 2005-192, s. 2.) NORTH CAROLINA COMMENT Subsection (a) recodifies the provisions of subsection (a) of former G.S. 36A-29 with minor modifications concerning whether the trustee is required to account to the clerk. Subsection (b) recodifies the provisions of subsection (b) of former G.S. 36A-29 regarding the filing of a final account by a trustee desiring to resign as trustee. Subsection (c) is consistent with the provisions of former G.S. 36A-48 authorizing the clerk to require a trustee of a charitable trust to account to the clerk of superior court in proceedings to enforce a charitable trust.