2009 North Carolina Code
Chapter 32 - Fiduciaries.
§ 32-56. Payment of compensation without court order.
§ 32‑56. Payment of compensation without court order.
The trustee is authorized to pay the compensation provided for in G.S. 32‑54 without prior approval of the clerk of superior court only if:
(1) The annual amount of compensation does not exceed four‑tenths of one percent (4/10 of 1%) of the principal value of the assets of the trust on the last day of the trust accounting year; or
(2) Notice has been given pursuant to G.S. 32‑55 and no qualified beneficiary or representative of a qualified beneficiary has initiated a proceeding under G.S. 32‑57 for review of the reasonableness of the compensation within 20 days after notice has been given by the trustee in accordance with G.S. 32‑55. (2004‑139, s. 2; 2007‑106, s. 40.)
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