§ 33A-6. Other transfer by fiduciary. - North Carolina Statutes

§33A‑6.  Other transfer by fiduciary.

(a)        Subject tosubsection (c), a personal representative or trustee may make an irrevocabletransfer to the transferor or to another adult or trust company as custodianfor the benefit of a minor pursuant to G.S. 33A‑9, in the absence of awill or under a will or trust that does not contain an authorization to do so.

(b)        Subject tosubsection (c), a guardian may make an irrevocable transfer to the transferoror to another adult or trust company as custodian for the benefit of the minorpursuant to Section 33A‑9.

(c)        A transfer undersubsection (a) or (b) may be made only if (i) the personal representative,trustee, or guardian considers the transfer to be in the best interest of theminor, and (ii) the transfer is not prohibited by or inconsistent withprovisions of the applicable will, trust agreement, or other governinginstrument.  If the value of the property transferred under subsections (a) or(b) will total more than ten thousand dollars ($10,000), whether in one or moretransfers, that transfer must be authorized by the court.  If a transfer undersubsections (a) or (b) is to the transferor then the transfer must beauthorized by the court. (1987, c. 563, s. 2.)