§60-175.719. Compensation of trustee.
191 words·~1 min read·
/ok/title-60-property/60-175-719·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
COMPENSATION OF TRUSTEE
A. Except as provided by subsection B of this section and unless a court, on application of the authorized trustee, directs otherwise, the trustee shall not exercise a power under Section 3 or 4 of this act solely to change trust provisions regarding the determination of the compensation of any trustee.
B. An authorized trustee, in connection with the exercise of a power under Section 3 or 4 of this act for another valid and reasonable purpose, may bring the trustee's compensation into conformance with reasonable limits authorized by state law.
C. The compensation payable to an authorized trustee of the first trust may continue to be paid to the trustee of the second trust during the term of the second trust and may be determined in
the same manner as the compensation would have been determined in the first trust.
D. An authorized trustee shall not receive a commission or other compensation for the distribution of a particular asset from a first trust to a second trust under Section 3 or 4 of this act. Added by Laws 2021, c. 268, § 19, eff. Nov. 1, 2021.