A. Every guardian must be allowed the amount of his reasonable expenses in the execution of his trust, and he must also have such compensation for his services as the court in which his accounts are settled deems just and reasonable.
B. To the extent that the services of a guardian or limited guardian of the property are for the collection of income of the ward, compensation for such services shall not exceed seven and one-half percent (7 1/2%) of the income so collected. For the purposes of this section, "income" means funds received by and accounted for by the guardian or limited guardian on behalf of the ward, other than from the sale of property of the ward, plus the net proceeds from the sale of property of the ward in excess of the value of such property as last determined in the guardianship proceeding.
C. All compensation and reimbursements pursuant to this section shall be approved by the court prior to payment.
Added by Laws 1923-24, c. 84, p. 101, § 4. Amended by Laws 1953, p. 248, § 85; Laws 1965, c. 55, § 1, emerg. eff. March 29, 1965; Laws 1988, c. 329, § 88, eff. Dec. 1, 1988. Renumbered from Title 58, § 884 by Laws 1988, c. 329, § 134, eff. Dec. 1, 1988.
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