§ 37A-1-104.26. Unitrust amount in excess of a five percent payout. - North Carolina Statutes

§ 37A‑1‑104.26. Unitrust amount in excess of a five percent payout.

A trust that provides for afixed percentage payout in excess of five percent (5%) per year is consideredan express total return unitrust that pays out a fixed percentage of fivepercent (5%) per year and pays out principal to the extent that the fixedpercentage payout exceeds five percent (5%) per year. (2005‑244, s. 6.)