Court Opinion

ID: 9633217
Source: CourtListenerOpinion
Date Created: 2023-08-22 11:38:38.962467+00
Date Added: 2024-06-11T13:11:22.954944
License: Public Domain

TONGUE, J.,
specially concurring.
I concur in the holding that the bank had the right to resign as trustee. I concur in the approval of the increase in the rate of compensation to the bank, however, only because, according to the majority, that increased rate of compensation “was less than the compensation received by other corporate trustees who testified in the case.” Thus, it appears that it would be impossible or impracticable .to find another qualified banking institute to act as trustee for that rate of compensation, with the result that the trust would otherwise fail for lack of a trustee unless another bank were appointed as trustee at a greater cost to the trust. Cf. Restatement of Trusts (2d) 607-608, § 242, Comment (f).