NORTH CAROLINA GENERAL ASSEMBLY

1967 SESSION

 

 

CHAPTER 956

HOUSE BILL 505

 

 

AN ACT TO AMEND THE FIDUCIARY POWERS ACT TO MAKE THE AUTHORITY OF THE FIDUCIARY TO APPORTION AND ALLOCATE RECEIPTS AND EXPENSES SUBJECT TO THE UNIFORM PRINCIPAL AND INCOME ACT.

 

The General Assembly of North Carolina do enact:

 

Section 1.  G.S. 32-27(29), as the same appears in 1966 Replacement Volume 2A of the General Statutes, is hereby amended by rewriting the first line thereof to read, "(29) Apportion and Allocate Receipts and Expenses. Where not otherwise provided by the Uniform Principal and Income Act, as contained in Chapter 37 of the General Statutes, to determine:".

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall become effective October 1, 1967.

In the General Assembly read three times and ratified, this the 27th day of June, 1967.