§ 2308. Commissions of trustees, donees of power during minority and\n donees of powers in trust under wills of persons dying, or\n under lifetime trusts created, on or before August 31, 1956\n 1. On the settlement of the account of any trustee or donee of power\nin trust under the will of a person dying on or before August 31, 1956,\nor under a lifetime trust established on or before August 31, 1956, the\ncourt must allow him or her his or her reasonable and necessary expenses\nactually paid by him or her and if he or she be an attorney of this\nstate and shall have rendered legal services in connection with his or\nher official duties, such compensation for his or her legal services as\nshall appear to the court to be just and reasonable and in addition\nthereto it must allow to the trustee or to the donee of the power in\ntrust for his or her services as trustee or donee of the power in trust\nthe following commissions from trust principal or property subject to\nthe power in trust:\n (a) For receiving principal or property subject to the power in trust\n (1) all sums of money constituting principal or property subject to\nthe power in trust not exceeding $2,000 at the rate of 3 per cent;\n (2) all additional sums of principal or property subject to the power\nin trust not exceeding $10,000 at the rate of 1 1/2 per cent;\n (3) all sums of principal or property subject to the power in trust\nabove $12,000 at the rate of 1 1/4 per cent; and\n (b) For paying out principal or property subject to the power in trust\nat the rate of 1 per cent.\n (c) Notwithstanding the provisions of section 8 of chapter 237 of the\nlaws of 1978, commissions provided by paragraph (a) of this subdivision\nfor receiving principal or property subject to the power in trust shall\nnot be allowed to a trustee or donee of a power in trust who qualifies\nto act as such on or after June 5, 1978, and shall not be allowed on\nadditions of property received on or after June 5, 1978; such\ncommissions on any increments in property that are payable by reason of\nany sale, exchange or liquidation of such property shall be allowed on\nthe lesser of (1) the amount of such increments on the date of sale,\nexchange or liquidation of such property and (2) the amount of such\nincrements on June 5, 1978; and such commissions on any increments in\nproperty that are payable by reason of any distribution of such property\nshall be allowed on the lesser of (1) the amount of such increments on\nthe date of distribution of such property and (2) the amount of such\nincrements on the effective date of this paragraph.\n 2. In addition to the commission allowed by subdivision one a trustee\nor a donee of a power in trust shall be entitled to annual commissions\nat the following rates:\n (a) $10.50 per $1,000 or major fraction thereof on the first $400,000\nof principal or property subject to the power in trust;\n (b) $4.50 per $1,000 or major fraction thereof on the next $600,000 of\nprincipal or property subject to the power in trust; and\n (c) $3.00 per $1,000 or major fraction thereof on all additional\nprincipal or property subject to the power in trust.\n Such annual commissions shall be computed either on the value of the\nprincipal of the trust or of the property subject to the power in trust\nat the end of the period for which the commissions are payable or, at\nthe option of the trustee or of the donee of the power in trust, on the\nvalue of the principal of the trust or of the property subject to the\npower in trust at the beginning of such period, provided that the option\nelected by the trustee or of the donee of the power in trust for the\nfirst period for which such commissions are payable shall be used during\nthe continuance of the trust or of the power in trust and shall be\nbinding on any successor or substitute trustee or trustees or successor\nor substitute donees of the power in trust. In the case of a trust or\npower in trust w
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