North Carolina General Statutes 33B-8. General powers of custodial trustee
Current as of: 2023 | Check for updates
|
Other versions
(a) A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.
(b) This section does not relieve a custodial trustee from liability for a violation of N.C. Gen. Stat. § 33B-7 (1995, c. 486, s. 1.)
Terms Used In North Carolina General Statutes 33B-8
- Fiduciary: A trustee, executor, or administrator.
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Trustee: A person or institution holding and administering property in trust.