Compensation for Fiduciary Services; Counsel Fees

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Sec. 19. (a) A corporate fiduciary has the power to demand and receive, for the faithful performance and discharge of services performed under the powers vested in the corporate fiduciary by this article:

(1) reasonable compensation, or compensation as fixed by agreement of the parties;

(2) all advances necessarily paid out and expended in the discharge and performance of its duties; and

(3) unless otherwise agreed upon, interest at the legal rate on the advances referred to in subdivision (2).

(b) The advances referred to in subsection (a) may include the compensation paid for the employment of legal services when necessary for the protection of a trust or other fiduciary relation.

As added by P.L.262-1995, SEC.90.


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