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New Jersey Statutes, Title: 3B, ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
Chapter 11: Creator's reserved interest in trust alienable subject to creditors' claims
Section: 3B:11-17: Trustees' commission
2. The trustees of a pooled trust fund established pursuant to section 1 of this act for the benefit of not less than 200 purchasers or intended funeral recipients shall be entitled to a commission of not more than 1\% per annum of the corpus of the trust fund. The trustees of a pooled trust fund for the benefit of less than 200 purchasers or intended funeral recipients shall not be entitled to any commission. All expenses incurred in the administration of such a trust or the services rendered thereby shall be deducted from income received by the trustees and in no event shall the trustees invade the corpus of the trust funds.
L.1985,c.147,s.2; amended 1993,c.147,s.21.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 3b:11-17 (if available):
Court decisions that cite this statute: