32-60. Effect of provisions in instrument.
In those instances where the instrument creating the trust or other fiduciary relationship provides that the compensation of the fiduciary shall be the amount "provided by law", the "maximum amount provided by law", or other similar language, or references former G.S. 32-50, this language shall be construed as an intention that the trustee or other fiduciary shall receive reasonable compensation as allowed under this Article. In those instances where the instrument creating the trust or other fiduciary relationship provides that the trustee or other fiduciary shall serve without compensation, this language shall be construed as being a provision relating to compensation, and the trustee or other fiduciary shall not be entitled to receive reasonable compensation as allowed under this Article. (2004-139, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 6 - Compensation of Trustees and Other Fiduciaries.
§ 32-54 - Compensation of trustees.
§ 32-56 - Payment of compensation without court order.
§ 32-57 - Judicial review; payment of compensation and other payments with court order.
§ 32-58 - Reimbursement for expenses incurred.
§ 32-59 - Compensation of other fiduciaries.
§ 32-60 - Effect of provisions in instrument.
§ 32-61 - Counsel fees allowable to attorneys serving as fiduciaries.