NORTH CAROLINA GENERAL ASSEMBLY
1975 SESSION

CHAPTER 637
HOUSE BILL 931

AN ACT TO MAKE VARIOUS TECHNICAL AMENDMENTS RELATING TO TRUSTS AND ESTATES.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 105-161(d)(4)(a), as found in the 1974 Cumulative Supplement to Volume 2D of the General Statutes, is amended by deleting the period at the end of the first full paragraph and by inserting the following:
"provided further, that trusts entitled to the deduction for amounts permanently set aside for charitable purposes under the provisions of Section 642(c) of the Internal Revenue Code of 1954, as amended, shall also qualify for such deduction under this division."
Sec. 2.  (a) G.S. 37-20(a) is amended, in line 3, by inserting after the word "on" the words "the date after".
(b)	G.S. 37-20(b)(2) is amended, in the last sentence, by inserting after the word "accruing" the words "on or".
Sec. 3.  G.S. 33-42.1 is amended by rewriting the last three lines after the word "securities" to read as follows:
"have been examined within one year and that the securities were held at the time of the examination by the fiduciary or by a clearing corporation for the fiduciary and that the person making such certification has no reason to believe said securities are not still so held. Nothing herein contained shall be construed to abridge the inherent right of the clerk of the Superior Court to require the production of securities, should he desire to do so."
Sec. 4.  G.S. 37-18 is amended by the addition of a new subsection to read as follows:
"(c)	The exercise of powers of allocation of receipts and expenditures contained in or incorporated by reference to G.S. 32-27(29) in wills dated prior to the effective date of this Chapter shall continue to be valid."
Sec. 5.  G.S. 28A-21-2(a) is amended in line 4 by the deletion of the period after the word "qualification" and the insertion of the following: "or within six months after his receipt of the State Inheritance Tax Release, whichever is later."
Sec. 6.  Section 1 of this act shall be effective from January 1, 1974. Sections 2, 3, 4 and 5 of this act shall become effective upon ratification.
In the General Assembly read three times and ratified, this the 17th day of June, 1975.