§ 32-70. Definition. - North Carolina Statutes

Article 7.

Investment and Deposit ofTrust Funds.

§ 32‑70.  Definition.

(a)        For the purpose ofthis Article, the word "fiduciary" shall be construed to include aguardian, personal representative, collector, trustee, or any other personcharged with the duty of acting for the benefit of another party as to matterscoming within the scope of the relationship between them.

(b)        As used insubsection (a) above, the word "person" shall be construed to includean individual, a corporation, or any legal or commercial entity authorized tohold property or do business in the State of North Carolina. (1977, c. 502, s. 2; 2005‑192,s. 1.)