55-1A-34. Advance of money for protection of trust--Lien.
68 words·~1 min read·
/sd/title-55/chapter-55-1/55-1a-34A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A trustee may advance money for the protection of his trust or its assets, and for all expenses and liabilities sustained or incurred in or about the administration or protection of the trust, or because of the holding or ownership of any trust assets. Such trustee shall have a lien on the trust assets and may reimburse himself, with interest, out of the trust assets for the advances.