§ 36C-11-1106. Application to existing relationships. - North Carolina Statutes

§ 36C-11-1106.  Application toexisting relationships.

(a)        Except as otherwiseprovided in this Chapter, this Chapter applies to (i) all trusts createdbefore, on, or after January 1, 2006; (ii) all judicial proceedings concerningtrusts commenced on or after January 1, 2006; and (iii) judicial proceedingsconcerning trusts commenced before January 1, 2006, unless the court finds thatapplication of a particular provision of this Chapter would substantiallyinterfere with the effective conduct of the judicial proceedings or prejudicethe rights of the parties, in which case the particular provision of thisChapter does not apply and the superseded law applies.

(b)        Except as otherwiseprovided in this Chapter, any rule of construction or presumption provided inthis Chapter applies to trust instruments executed before January 1, 2006,unless there is a clear indication of a contrary intent in the terms of thetrust or unless application of that rule of construction or presumption wouldimpair substantial rights of a beneficiary. Except as otherwise provided inthis Chapter, an act done before January 1, 2006, is not affected by thisChapter. If a right is acquired, extinguished, or barred upon the expiration ofa prescribed period that has commenced to run under any other statute beforeJanuary 1, 2006, that statute continues to apply to the right even if it hasbeen repealed or superseded.(2005-192, ss. 7(a), (b); 2006-226, ss. 31(a), (b).)