Section 19-4A-6 Compensation. - Alabama Statutes

Section 19-4A-6

Compensation.

In the absence of specific instructions in the governing document, the fiduciary may receive compensation for the investment of idle funds by netting said compensation from the yield of the investment; provided, however, that disclosure of the compensation (expressed as a percentage of asset value or otherwise) is made to the current income beneficiary by mailing separate notice (by prospectus, statement, letter or otherwise) to the current income beneficiary's last known address.

(Acts 1991, No. 91-129, p. 163, §1(f).)