New Hampshire Revised Statutes 564-C:5-501 – Disbursements from Income
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A trustee shall make the following disbursements from income to the extent that they are not disbursements to which N.H. Rev. Stat. § 564-C:2-201(2)(B) or (C) applies:
(a) Except as otherwise ordered by a court, so much of the compensation of the trustee and of any person providing investment advisory or custodial services to the trustee, and so much of the expenses for accounting, judicial proceedings, or other matters that involve the income and remainder interests as shall be determined by the trustee.
(b) 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
(c) Recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.
(a) Except as otherwise ordered by a court, so much of the compensation of the trustee and of any person providing investment advisory or custodial services to the trustee, and so much of the expenses for accounting, judicial proceedings, or other matters that involve the income and remainder interests as shall be determined by the trustee.
Terms Used In New Hampshire Revised Statutes 564-C:5-501
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Trustee: A person or institution holding and administering property in trust.
(b) 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
(c) Recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.