3B:18-7. Annual statement relating to corpus commissions taken
102 words·~1 min read·
/nj/title-3b/chapter-18/3b-18-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A trustee under a will or a guardian shall, within 60 days after the end of each tax year of the trust or guardianship furnish to each beneficiary currently receiving income, and to any other beneficiary interested in the income and to any person interested in the principal of the trust or guardianship who shall make a demand therefor, a statement showing any corpus commissions taken during the tax year and the basis upon which those commissions were computed, including the inventory value and value as of the date the commissions were computed.
L.1981, c. 405, s. 3B:18-7, eff. May 1, 1982.