34-5-113 - Compensation of guardians. - Tennessee Statutes

34-5-113. Compensation of guardians.

Compensation payable to guardians shall be based upon services rendered and shall not exceed seven percent (7%) of the amount of moneys received during the period covered by the account; provided, that the court may approve compensation of not to exceed two hundred fifty dollars ($250) per year in any case in which seven percent (7%) of the income is less than that amount and does not, in the opinion of the court, adequately compensate the guardian for the services rendered during the year. In the event of extraordinary services by any guardian, the court, upon petition and hearing on the petition, may authorize reasonable additional compensation for those services. A copy of the petition and notice of hearing on the petition shall be given to the proper office of the veterans administration in the manner provided in the case of hearing on a guardian's account or other pleading. No commission or compensation shall be allowed on the moneys or other assets received from a prior guardian, nor upon the principal amount received from liquidation of loans, or from other investments.

[Acts 1943, ch. 90, § 12; C. Supp. 1950, § 8558.13 (Williams, § 8551); Acts 1963, ch. 221, § 1; T.C.A. (orig. ed.), § 34-913; Acts 1987, ch. 322, § 17.]