North Carolina General Statutes § 32-60 Effect of provisions in instrument
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In those instances where the instrument creating the trust or other fiduciary relationship provides that the compensation of the fiduciary shall be the amount "provided by law", the "maximum amount provided by law", or other similar language, or references former G.S. 32‑50, this language shall be construed as an intention that the trustee or other fiduciary shall receive reasonable compensation as allowed under this Article. In those instances where the instrument creating the trust or other fiduciary relationship provides that the trustee or other fiduciary shall serve without compensation, this language shall be construed as being a provision relating to compensation, and the trustee or other fiduciary shall not be entitled to receive reasonable compensation as allowed under this Article. (2004‑139, s. 2.)
Sections: 32-53 32-54 32-55 32-56 32-57 32-58 32-59 32-60 32-61 32-62 32-70 32-71 32-72 32-73 32-74
Last modified: February 21, 2012
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