North Carolina § 53-423 - Trust institution as agent.
Full text of North Carolina North Carolina General Statutes § 53-423 — Trust institution as agent., with citation guidance and answers to common questions.
§ 53-423. Trust institution as agent.
A trust institution may appoint another trust institution that is its affiliate as its agent for the performance of acts, obligations, and responsibilities with respect to any account. In that event, the trust institution shall remain fully responsible and liable with respect to all actions of the affiliated trust institution as if those actions were performed by the trust institution. Except as explicitly provided in documents or laws governing an account, appointment of an affiliate agent is not: An impermissible delegation of responsibility or duty by the appointing trust institution. A transfer or relinquishment of account powers by the appointing institution. A resignation or disqualification from the account by the appointing trust institution. History (2005-274, s. 2.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 53-423
What does North Carolina General Statutes § 53-423 cover?
Section 53-423 ("Trust institution as agent.") 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 § 53-423?
A common citation format is "North Carolina General Statutes § 53-423" (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 § 53-423 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.