§ 36C-8A-1 “Power holder” defined
§ 36C-8A-2 Powers of a power holder
§ 36C-8A-3 Duty and liability of power holder
§ 36C-8A-4 Duty and liability of trustee
§ 36C-8A-4.1 Limitations of actions against power holder for breach of trust
§ 36C-8A-4.2 Defenses in action against power holder
§ 36C-8A-5 Compensation and reimbursement of expenses of power holder
§ 36C-8A-6 Jurisdiction over power holder
§ 36C-8A-7 Accepting or declining the appointment as power holder
§ 36C-8A-8 Vacancy in the office of the power holder
§ 36C-8A-9 More than one power holder
§ 36C-8A-10 Resignation of power holder
§ 36C-8A-11 Removal of power holder
§ 36C-8A-12 Power holder’s bond
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Terms Used In North Carolina General Statutes > Chapter 36C > Article 8A - Powers, Duties, and Liability of a Power Holder Other Than a Trustee; Duty and Liability of a Trustee With Respect to Power Holder's Actions

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Donor: The person who makes a gift.
  • Fiduciary: A trustee, executor, or administrator.
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
  • Trustee: A person or institution holding and administering property in trust.