North Carolina § 33B-4 Form and effect of receipt and acceptance by custodial trustee; jurisdiction

North Carolina Statutes

§ 33B-4 — Form and effect of receipt and acceptance by custodial trustee; jurisdiction

North Carolina § 33B-4

Ch. 33BNorth Carolina Uniform Custodial Trust Act

This text of North Carolina § 33B-4 (Form and effect of receipt and acceptance by custodial trustee; jurisdiction) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 33B-4 (2026).

Text

(a)Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this act upon the custodial trustee's acceptance, express or implied, of the custodial trust property.

(b)The custodial trustee's acceptance may be evidenced by a writing stating in substance: "CUSTODIAL TRUSTEE'S RECEIPT AND ACCEPTANCE I, __________, (name of custodial trustee) acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for ___________ (name of beneficiary) under the North Carolina Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the North Carolina Uniform Custodial Trust Act. My obligations as custodial t

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(a) Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this act upon the custodial trustee's acceptance, express or implied, of the custodial trust property.
(b) The custodial trustee's acceptance may be evidenced by a writing stating in substance:
"CUSTODIAL TRUSTEE'S RECEIPT AND ACCEPTANCE
I, __________, (name of custodial trustee) acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for ___________ (name of beneficiary) under the North Carolina Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the North Carolina Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is, or becomes incapacitated. The custodial trust property consists of ____________
Dated: ________________
____________________
(Signature of Custodial Trustee)".
(c) Upon accepting custodial trust property, a person designated as custodial trustee under this act is subject to personal jurisdiction in this State with respect to any matter relating to the custodial trust. (1995, c. 486, s. 1.)