§ 23-10. Priority of payments by trustee. - North Carolina Statutes

§23‑10.  Priority of payments by trustee.

The trustee, after paying thenecessary costs of the administration of the trust, shall pay as speedily aspossible

(1)        All debts which area lien upon any of the trust property in his hands, to the extent of the netproceeds of the property upon which such debt is a lien;

(2)        Wages due toworkmen, clerks, traveling or city salesmen, or  servants, which have beenearned within three months before registration of said deed of trust or deed ofassignment, and

(3)        All other debtsequally ratable. (1909, c. 918, s. 5; C.S., s. 1618.)