§ 564:21-a — Compensation for Trustees of Charitable Trusts

A trustee of a charitable trust shall be allowed reasonable expenses incurred in the execution of the trust; and unless otherwise expressly provided in the trust instrument, the trustee shall have such reasonable compensation for services as the judge may allow. Such compensation and expenses shall be payable as provided in the trust instrument, or in the absence of such direction, shall be payable out of income. Such compensation may also be payable out of principal, or both income and principal, if approved annually in writing by a duly authorized representative of the governing body of the charitable beneficiary or beneficiaries. Any such compensation and fee schedules shall be subject to approval of the court.

Legislative History

1997, 278:2. 1998, 376:2, eff. Jan. 1, 1999.