Opinion ID: 1640458
Heading Depth: 2
Heading Rank: 5

Heading: Trustee's Expenses

Text: Millers asserts that the district court erred in directing that the PSC is entitled to reimbursement for the $2,024 in expenses it incurred as trustee. Millers does not contend that the amount is unreasonable but that there is no statutory authority for such an award. We disagree with Millers' contention. This court implicity recognized the authority for such reimbursement in grain warehouseman insolvency proceedings in State v. Wheat Growers' Warehouse Co., 63 N.D. 640, 249 N.W. 718 (1933). In 1983 § 60-04-10, N.D.C.C., was amended to specifically mention the PSC's right to reimbursement for expenses incurred in acting as trustee. See 1983 N.D.Sess.Laws Ch. 674, § 12. The district court's allowance of expenses also accords with the general statutes regarding the administration of trusts which specifically provide for the reimbursement of the trustee's expenses. See §§ 59-02-15 and 59-04-21, N.D.C.C. We hold that the district court correctly ruled that the PSC was entitled to reimbursement for its expenses in administering the trust fund. In accordance with this opinion, the judgment and amended judgment granting summary judgment and approving the trustee's report are affirmed in all respects. ERICKSTAD, C.J., GIERKE, J., and PEDERSON and ILVEDSON, Surrogate Justices, concur. Surrogate Justice PEDERSON participated in this case by assignment pursuant to § 27-17-03, N.D.C.C. ILVEDSON, S.J., sitting in place of VANDE WALLE, J., disqualified. Justice PAUL M. SAND, who died on December 8, 1984, was a member of this Court at the time this case was submitted.