Bill Summary for S 394 (2019-2020)

Summary date: 

Jun 24 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 394 (Public) Filed Wednesday, March 27, 2019
AN ACT TO MAKE VARIOUS CHANGES TO THE GENERAL STATUTES CONCERNING ESTATES, TRUSTS, AND GUARDIANSHIPS, AS RECOMMENDED BY THE NORTH CAROLINA BAR ASSOCIATION.
Intro. by Daniel.

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Bill summary

House committee substitute to the 1st edition makes the following changes.

Provides that Section 4 of the act, enacting new GS 1-56.1, which provides that there is no statute of limitation for an action to reform, terminate, or modify a trust pursuant to GS 36C-4-410 through GS 36C-4-416, also applies to all judicial proceedings concerning trusts commenced before the effective date of the act, unless the court finds that the application of Section 4 would substantially interfere with the effective conduct of the judicial proceeding or prejudice the rights of the parties. Makes additional clarifying changes to the act's effective date provision.

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