06 LC 29
2114
Senate
Bill 534
By:
Senators Bulloch of the 11th and Hamrick of the 30th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 53-12-173 of the Official Code of Georgia Annotated, relating
to compensation for services, so as to specify that when a
trusteés
compensation is not specified in the trust instrument it shall be based on the
compensation schedule of conservators; to provide for other related matters; to
repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 53-12-173 of the Official Code of Georgia Annotated, relating to
compensation for services, is amended by striking subsection (b) and inserting
in lieu thereof the following:
"(b)
If the
trusteés
compensation is not specified in the trust instrument or any separate written
agreement, the trustee, for services rendered, shall be entitled to the same
compensation as
guardians
conservators
receive for similar services
as set forth
in Code Section 29-5-50. The
trusteés
compensation may be paid from time to time as the fees are earned, except that
the fees for delivery of property in kind, when specifically approved by the
judge of the probate court, may be paid in advance of actual distribution when
the judge of the probate court shall determine that this is equitable and that
the condition of the estate permits
it."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.