§ 15-523. Disbursements from income

MD Est & Trusts Code § 15-523 (2019) (N/A)

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A trustee shall make the following disbursements from income to the extent that they are not disbursements to which § 15–503(c)(2) or (3) of this subtitle apply:

(1) Regular compensation of the trustee on income, if determined in accordance with § 14.5–708(b) of this article;

(2) That portion of the regular compensation of the trustee, if the compensation is determined in a manner other than in accordance with § 14.5–708(b) and (c) of this article, and that portion of the compensation of any person providing investment advisory or custodial services to the trustee, as the trustee determines is fair and reasonable in accordance with § 15–502(b) of this subtitle;

(3) One–half of all expenses for accountings, judicial proceedings, or other matters that involve both the income and remainder interests;

(4) All of the other ordinary expenses incurred in connection with the administration, management, or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal, and expenses of a proceeding or other matter that concerns primarily the income interest; and

(5) Recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.

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§ 15-524. Disbursements from principal