Statute
Section 87 — Trusts Act 2019: Trustee’s lien on insurance money for premiums
Text of the provision Official document
87 Trustee’s lien on insurance money for premiums (1) This section applies if a trustee pays any premiums in respect of any insurance contract for trust property for which the trustee has not previously received reimbursement from the trust property. (2) The trustee has a lien on— (a) the insurance money for the amount of the premiums paid; and (b) interest on that amount calculated in accordance with Schedule 2 of the Interest on Money Claims Act 2016. Compare: 1956 No 61 s 34A
Official source: legislation.govt.nz
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