Current through Session Law 2024-58
Section 32-57 - Judicial review; payment of compensation and other payments with court order(a) If the terms of the trust do not specify the trustee's compensation, the trustee or any qualified beneficiary, or representative of a qualified beneficiary, may initiate a proceeding under Article 2 of Chapter 36C of the General Statutes for review of the reasonableness of any compensation or expense reimbursement and for the approval or denial of the payment of compensation or expense reimbursement. A beneficiary may initiate a proceeding even though the 20-day period referred to in G.S. 32-56(2) has expired.(b) In connection with reviewing the reasonableness of any compensation or expense reimbursement, the clerk of superior court may order the trustee to make appropriate refunds if the clerk determines upon review that a trustee has received excessive compensation or expense reimbursement.Amended by 2007 N.C. Sess. Laws 106,s. 41, eff. 10/1/2007.Amended by 2006 N.C. Sess. Laws 259,s. 13.(n), eff. 10/1/2006.Added by 2004 N.C. Sess. Laws 0139, s. 2, eff. 1/1/2005.