§ 36C-4-410. Modification or termination of trust; proceedings for approval or disapproval. - North Carolina Statutes

§ 36C‑4‑410. Modification or termination of trust; proceedings for approval or disapproval.

(a)        In addition to themethods of termination prescribed by G.S. 36C‑4‑411 through G.S.36C‑4‑414, a trust terminates to the extent that the trust isrevoked or expires under its terms, no purpose of the trust remains to beachieved, or the purposes of the trust have become unlawful, contrary to publicpolicy, or impossible to achieve.

(b)        A trustee orbeneficiary may commence a proceeding to approve or disapprove a proposedmodification or termination under G.S. 36C‑4‑411 through G.S. 36C‑4‑416.A settlor may commence a proceeding to approve or disapprove a proposedmodification or termination under G.S. 36C‑4‑411. The settlor of acharitable trust may maintain a proceeding to modify the trust under G.S. 36C‑4‑413.A trustee is a necessary party to any proceeding under this Article.

(c)        Repealed by SessionLaws 2006‑259, s. 13(c), effective October 1, 2006. (2005‑192, s. 2; 2006‑259,s. 13(c); 2007‑106, s. 16.)