North Carolina General Statutes 36C-5-507. Personal obligations of trustee
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Terms Used In North Carolina General Statutes 36C-5-507
- 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.
Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt. (2005-192, s. 2.)