§ 53-40. Executors, trustees, etc., not personally liable. - North Carolina Statutes

§53‑40.  Executors, trustees, etc., not personally liable.

Persons holding stock asexecutors, administrators, guardians, or trustees shall not personally besubject to any liabilities as stockholders, but the estate and funds in theirhands shall be liable in like manner and to the same extent as the testator,intestate, ward, or person interested in such trust fund would be if living andcompetent to hold stock in his own name. (1921, c. 4, s. 23; C.S., s.219(c).)