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Session Laws, 1974
Volume 713, Page 208   View pdf image
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208                                              LAWS OF MARYLAND                             [Ch. 11

PART OF THE CORPUS HELD IN TRUST IN THE COURSE OF ANY
YEAR, THE COMMISSION FOR THAT YEAR SHALL BE REDUCED OR
PROBATED ACCORDING TO THE PART OF THE YEAR ELAPSED AND
THE AMOUNT OF CORPUS AS TO WHICH THE TRUST TERMINATES,

AND BE CHARGEABLE,__FOR SUCH PART OF A YEAR (AND WITH

RESPECT TO ANY SUCH PART OF THE CORPUS)___AT SUCH

TERMINATION OF THE TRUST, UPON THE THEN VALUE OF THE
CORPUS.

(D)   SALES.

FOR SELLING REAL OR LEASEHOLD PROPERTY, A COMMISSION
UPON THE PROCEEDS OF THE SALE IS PAYABLE AT THE RATE
ALLOWED BY RULE OF COURT OR STATUTE[[,]] TO TRUSTEES
APPOINTED TO MAKE SALES UNDER DECREES OR ORDERS OF A
COURT OF EQUITY IN THE COUNTY WHERE THE REAL OR LEASEHOLD
PROPERTY IS SITUATED, [[OF]] OR IF THE PROPERTY IS
LOCATED OUTSIDE MARYLAND, FOR SELLING SIMILAR PROPERTY IN
THE COUNTY WHERE THE TRUST IS BEING ADMINISTERED. THE
COMMISSION IS PAYABLE FROM THE PROCEEDS OF THE SALE WHEN
COLLECTED.

(E)   FINAL DISTRIBUTION.

UPON THE FINAL DISTRIBUTION OF ANY TRUST ESTATE, OR
PORTION OF IT, AN ALLOWANCE IS PAYABLE COMMENSURATE WITH
THE LABOR AND RESPONSIBILITY INVOLVED IN MAKING THE
DISTRIBUTION, INCLUDING THE MAKING OF ANY DIVISION, THE
ASCERTAINMENT OF THE PARTIES ENTITLED, THE ASCERTAINMENT
AND PAYMENT OF TAXES, AND ANY NECESSARY TRANSFER OF
ASSETS. THE ALLOWANCE IS SUBJECT TO REVISION OR
DETERMINATION BY ANY COURT OF EQUITY HAVING JURISDICTION.
IN THE ABSENCE OF SPECIAL CIRCUMSTANCES THE ALLOWANCE
SHALL BE EQUAL TO ONE HALF OF ONE PERCENT UPON THE FAIR
VALUE OF THE CORPUS DISTRIBUTED.

(F)   DETERMINATION OF WHAT IS SINGLE TRUST.

IN DETERMINING WHAT IS A SINGLE TRUST FOR THE

APPLICATION OF THE RATES PROVIDED IN THIS SECTION, ALL

PROPERTY HELD UNDIVIDED UNDER THE TERMS OF THE WILL OR

OTHER INSTRUMENT CREATING THE TRUST SHALL BE CONSIDERED

AS A SINGLE TRUST. AFTER ANY SHARES HAVE BEEN SET APART

OR DIVIDED, TO BE HELD IN SEPARATE TRUST,      EACH SEPARATE
TRUST SET APART SHALL BE CONSIDERED AS A SINGLE TRUST.

REVISOR'S NOTE: This section presently appears as
Art. 16, §199. The subsections remain in
their present order but are rewritten for the
purpose of making each a complete sentence.
The only other changes are in style and
language.

10-104. JUDGE, CLERK, OR REGISTER OF WILLS NOT TO SERVE

 

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Session Laws, 1974
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