Maine Revised Statutes
Subpart 5: ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST
18-C §7-461. Disbursements from income

§7-461. Disbursements from income
A trustee shall make the following disbursements from income to the extent that they are not disbursements to which section 7‑421, subsection 2, paragraph B or C applies:   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
1.  Compensation.  One-half of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee;  
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Expenses; income and remainder interests.  One-half of all expenses for accountings, judicial proceedings or other matters that involve both the income and remainder interests;  
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Other ordinary expenses.  All of the ordinary expenses other than those specified in subsections 1 and 2 incurred in connection with the administration, management or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal and expenses of a proceeding or other matter that concerns primarily the income interest; and  
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
4.  Recurring premiums.  Recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.  
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).

Structure Maine Revised Statutes