§ 15-523. Disbursements from income
West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2019
Effective: October 1, 2019
MD Code, Estates and Trusts, § 15-523
§ 15-523. Disbursements from income
A trustee shall make the following disbursements from income to the extent that they are not disbursements to which § 15-503(c)(2) or (3) of this subtitle apply:
(2) That portion of the regular compensation of the trustee, if the compensation is determined in a manner other than in accordance with § 14.5-708(b) and (c) of this article, and that portion of the compensation of any person providing investment advisory or custodial services to the trustee, as the trustee determines is fair and reasonable in accordance with § 15-502(b) of this subtitle;
(4) All of the other ordinary expenses 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
Credits
Added by Acts 2000, c. 292, § 2, eff. Oct. 1, 2000. Amended by Acts 2014, c. 45, § 5; Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.
MD Code, Estates and Trusts, § 15-523, MD EST & TRST § 15-523
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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