State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_32 > GS_32-58

§ 32‑58.  Reimbursementfor expenses incurred.

In addition to thecompensation referred to in G.S. 32‑54, the trustee shall be entitled toreimbursement out of the assets of the trust for expenses properly incurred oradvanced in the administration of the trust and shall be empowered to pay theexpenses from the assets of the trust without prior approval of the clerk ofsuperior court. The court may allow reimbursement of other expenses incurred oradvanced to which the trustee is entitled in equity and good conscience. Thetrustee shall have a lien on trust property to secure reimbursement, withreasonable interest, of expenses owed under this section. (2004‑139, s. 2; 2007‑106,s. 42.)