State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_32 > GS_32-60

§ 32‑60.  Effect ofprovisions in instrument.

In those instances where theinstrument creating the trust or other fiduciary relationship provides that thecompensation of the fiduciary shall be the amount "provided by law",the "maximum amount provided by law", or other similar language, orreferences former G.S. 32‑50, this language shall be construed as anintention that the trustee or other fiduciary shall receive reasonablecompensation as allowed under this Article. In those instances where theinstrument creating the trust or other fiduciary relationship provides that thetrustee or other fiduciary shall serve without compensation, this languageshall be construed as being a provision relating to compensation, and thetrustee or other fiduciary shall not be entitled to receive reasonablecompensation as allowed under this Article. (2004‑139, s. 2.)