§ 2309. Commissions of trustees, of donees of powers during minority and\n of donees of powers in trust under wills of persons dying, or\n lifetime trusts established, after August 31, 1956\n 1. On the settlement of the account of any trustee or donee of a power\nin trust under the will of a person dying after August 31, 1956, or\nunder a lifetime trust established after August 31, 1956, the court must\nallow to 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 donee of a power in trust for\nhis or her services as trustee or donee of a power in trust a commission\nfrom principal or from the property subject to the power in trust, for\npaying out all sums of money constituting principal or property subject\nto the power in trust at the rate of 1 per cent.\n 2. In addition to the commission allowed by subdivision 1 hereof a\ntrustee or donee of a power in trust shall be entitled to annual\ncommissions at 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.\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 donee of the power in trust, on the value\nof the principal of the trust or of the property subject to the power in\ntrust at the beginning of such period, provided that the option elected\nby the trustee or donee of the power in trust for the first period for\nwhich such commissions are payable shall be used during the continuance\nof the trust or of the power in trust and shall be binding on any\nsuccessor or substitute trustee or trustees, donee or donees. In the\ncase of a trust which prior to January 1, 1994 computed annual\ncommissions on the basis of a 12 month period (other than a calendar\nyear), the trustee's prior election of such 12 month period shall be\nbinding unless, prior to January 1, 1995, the trustee makes a new\nelection to compute annual commissions on the basis of a calendar year\neither on the value of the principal of the trust at the end of, or at\nthe option of the trustee at the beginning of, the calendar year for\nwhich the commissions were payable, which new election shall be used\nduring the remaining continuance of the trust and shall be binding on\nany successor or substitute trustee or trustees. The computation shall\nbe made on the basis of a 12-month period but the amount so computed\npayable to a trustee shall be proportionately reduced or increased for\nany payments made in partial distribution of the trust or the receipt of\nany additional property into the trust within such period and shall be\nproportionately reduced in any period for which such commissions are\npayable to the trustee if the period is less than 12 months. For the\npurpose of computing the annual commissions the value of any principal\nasset when received by the trust or donee of a power in trust shall be\nthe presumptive value of the asset at the beginning and end of the\nperiod for which such commissions are payable. In computing the value of\nthe principal of the trust or of the property subject to the power in\ntrust the trustee or donee of the power in trust may use the presumptive\nvalue in respect of any principal asset or may use the act
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