North Carolina § 37A-1-104 - 21. Definitions.
Full text of North Carolina North Carolina General Statutes § 37A-1-104 — 21. Definitions., with citation guidance and answers to common questions.
§ 37A-1-104. 21. Definitions.
An "express total return unitrust" means a trust that has a governing instrument requiring the distribution at least annually of a unitrust amount equal to a fixed percentage of not less than three percent (3%) nor more than five percent (5%) per year of the net fair market value of the trust's assets, valued at least annually. "Code" means the Internal Revenue Code as described in G.S. 37A-1-104.1(1). "Treasury regulations" means the treasury regulations described in G.S. 37A-1-104.1(9a). History (2005-244, s. 6.) Editor's Note. - Session Laws 2005-244, s. 7, made this part effective July 30, 2005, and applicable to every trust or decedent's estate existing on that date or coming into existence after that date, except as otherwise expressly provided in the will or terms of the trust or in the provisions of Chapter 37A of the General Statutes. The numbers of G.S. 37A-1-104 .21 through 37A-1-104.25 were assigned by the Revisor of Statutes, the numbers in Session Laws 2005-244, s. 6, having been G.S. 37A-1-104 A.1 through 37A-1-104A.5.
Frequently Asked Questions About North Carolina § 37A-1-104
What does North Carolina General Statutes § 37A-1-104 cover?
Section 37A-1-104 ("21. Definitions.") 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-1-104?
A common citation format is "North Carolina General Statutes § 37A-1-104" (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-1-104 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.