New Jersey Statutes
§ 3B:11-17 — Trustees' commission
New Jersey·Title 3B ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
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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Nearby Sections
15
§ 3B:11-11
Provision included in trust instruments governing split-interest trusts or private foundation trusts§ 3B:11-13
Construction of article§ 3B:11-15
Application of article§ 3B:11-16
Pooled trust accounts§ 3B:11-16.1
Definitions used in C.3B:11-16 et al.§ 3B:11-17
Trustees' commission§ 3B:11-18
Report; rules, regulations§ 3B:11-19
Short title§ 3B:11-2
Letters of trusteeship under a will§ 3B:11-20
Findings§ 3B:11-21
Purposes, policies.