Bill Text: NC S568 | 2011-2012 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

---

Bill Title: Clarify Trusts as Beneficiaries in POD Accts

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2011-04-14 - Ref To Com On Judiciary I [S568 Detail]

Download: North_Carolina-2011-S568-Introduced.html

---

GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2011

S                                                                                                                                                    D

SENATE DRS55237-ME-80  (03/23)

 

 

 

Short Title:        Clarify Trusts as Beneficiaries in POD Accts.		(Public)
Sponsors:	Senator Brunstetter.
Referred to:

 

 

A BILL TO BE ENTITLED

AN ACT to clarify that trusts may be beneficiaries of payable on death accounts.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 53‑146.2 is amended by adding a new subsection to read:

"(e)       When referring to beneficiaries in this section, the term "person" includes an individual or corporate trustee of a trust."

SECTION 2.  G.S. 54‑109.57 is amended by adding a new subsection to read:

"(e)       When referring to beneficiaries in this section, the term "person" includes an individual or corporate trustee of a trust."

SECTION 3.  G.S. 54B‑130 is amended by adding a new subsection to read:

"(e)       When referring to beneficiaries in this section, the term "person" includes an individual or corporate trustee of a trust."

SECTION 4.  G.S. 54C‑166 is amended by adding a new subsection to read:

"(e)       When referring to beneficiaries in this section, the term "person" includes an individual or corporate trustee of a trust."

SECTION 5.  This act is effective when it becomes law and applies to all payable on demand accounts opened before or after the effective date of this act.