3B:11-17 - Trustees' commission - New-jersey Statutes

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Statutes > New-jersey > Title-3b > Section-3b-11 > 3b-11-17

3B:11-17.    Trustees' commission
    2.   The trustees of a pooled trust fund established pursuant to section 1 of this act for the benefit of not less than 200 purchasers or intended funeral recipients shall be entitled to a commission of not more than 1% per annum of the corpus of the trust fund. The trustees of a pooled trust fund for the benefit of less than 200 purchasers or intended funeral recipients shall not be entitled to any commission. All expenses incurred in the administration of such a trust or the services rendered thereby shall be deducted from income received by the trustees and in no event shall the trustees invade the corpus of the trust funds.

   L.1985,c.147,s.2; amended 1993,c.147,s.21.

State Codes and Statutes

Statutes > New-jersey > Title-3b > Section-3b-11 > 3b-11-17

3B:11-17.    Trustees' commission
    2.   The trustees of a pooled trust fund established pursuant to section 1 of this act for the benefit of not less than 200 purchasers or intended funeral recipients shall be entitled to a commission of not more than 1% per annum of the corpus of the trust fund. The trustees of a pooled trust fund for the benefit of less than 200 purchasers or intended funeral recipients shall not be entitled to any commission. All expenses incurred in the administration of such a trust or the services rendered thereby shall be deducted from income received by the trustees and in no event shall the trustees invade the corpus of the trust funds.

   L.1985,c.147,s.2; amended 1993,c.147,s.21.

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Statutes > New-jersey > Title-3b > Section-3b-11 > 3b-11-17

3B:11-17.    Trustees' commission
    2.   The trustees of a pooled trust fund established pursuant to section 1 of this act for the benefit of not less than 200 purchasers or intended funeral recipients shall be entitled to a commission of not more than 1% per annum of the corpus of the trust fund. The trustees of a pooled trust fund for the benefit of less than 200 purchasers or intended funeral recipients shall not be entitled to any commission. All expenses incurred in the administration of such a trust or the services rendered thereby shall be deducted from income received by the trustees and in no event shall the trustees invade the corpus of the trust funds.

   L.1985,c.147,s.2; amended 1993,c.147,s.21.