North Carolina § 37A-1-104 - 5. Matters in trustee's discretion.

§ 37A-1-104. 5. Matters in trustee's discretion.

In administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine: The effective date of the conversion; The timing of distributions, including provisions for prorating a distribution for a short year in which a beneficiary's right to payments commences or ceases; Whether distributions are to be made in cash or in kind or partly in cash and partly in kind; If the trust is reconverted to an income trust, the effective date of the reconversion; and Any other administrative issues as may be necessary or appropriate to carry out the purposes of this Part. History (2003-232, s. 2.)