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.