North Carolina § 32-58 - Reimbursement for expenses incurred.

§ 32-58. Reimbursement for expenses incurred.

In addition to the compensation referred to in G.S. 32-54, the trustee shall be entitled to reimbursement out of the assets of the trust for expenses properly incurred or advanced in the administration of the trust and shall be empowered to pay the expenses from the assets of the trust without prior approval of the clerk of superior court. The court may allow reimbursement of other expenses incurred or advanced to which the trustee is entitled in equity and good conscience. The trustee shall have a lien on trust property to secure reimbursement, with reasonable interest, of expenses owed under this section. History (2004-139, s. 2; 2007-106, s. 42.) Effect of Amendments. - Session Laws 2007-106, s. 42, effective October 1, 2007, inserted "or advanced" following "expenses properly incurred" and added the last two sentences. See Editor's note for applicability.