North Carolina § 37A-4-402 - Distribution from trust or estate.
Full text of North Carolina North Carolina General Statutes § 37A-4-402 — Distribution from trust or estate., with citation guidance and answers to common questions.
§ 37A-4-402. Distribution from trust or estate.
A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest and shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in a trust to a trustee, G.S. 37A-4-401 or G.S. 37A-4-415 applies to a receipt from the trust. History (2003-232, s. 2.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 37A-4-402
What does North Carolina General Statutes § 37A-4-402 cover?
Section 37A-4-402 ("Distribution from trust or estate.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 37A-4-402?
A common citation format is "North Carolina General Statutes § 37A-4-402" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 37A-4-402 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.