HomeMy WebLinkAbout0215 and "Co-Trustee" shall be deemed to include any Successor
Trustee or Co-Trustee When used in connectioa With any power~
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duty or other action by the Trustee or Co-Trustee.
ARTICLB 19 - COMPENSATION OF TRUSTEE
As compensation for its services hereunder, the Trustee
shall receive fees accordinR to ita schedule of fees in existence
at the time auch services are rendered. Such commissiona may be
charged curreatly or deferred in the discretion of the Trustee.
The Trustee shall have the right to make a reasonable charge
each year for its services in preparing income and other tax
returns for the trust estate. Such charge may be made to the
corpus of the trust estate or to the inco~e thereof or partly to
one and partly to the other in the discretion of the Trustee.
ARTICLE 20 - RESIGNATION OF TRUSTEE .
The Trustee maq resign at any time by giving thirty (30) daps
written notice to that effect to all adult beneficiaries then
receiving income hereunder. In such event, those beneficiaries
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i then receiving a majority of such income shall have the ri~ht to
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' appoint a Successor Trustee which must be a~trust coepany or bank
; possessing trust powers; and if such beneficiaries ahall fail to
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~ so appoint within said thirty (30) day period, the Trustee shall
~ have the right to petition a court of competent jurisdiction to
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~ appoint a Successor Trustee hereunder. Promptly after receivinR
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~ notice of the appointment of a Successor Trustee, the Trustee
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~ hereunder shall render its final accounting and shall transfer
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and deliver to such successor all trust assets then held by it,
whereupon it shall have full and complete acquittance of all
assets so delivered and shall have no further duties hereunder;
provided~ hoWever~ that nothing herein shall pre-vent any Trustee
:~r at anq time from filing a judicial settlement,and accounting with ~
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a court of competent jurisdiction.
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