14-9114. Expenses, compensation and bond of custodial trustee
Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary or by court order, a custodial trustee:
1. Is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services.
2. Has a noncumulative election, to be made not later than six months after the end of each calendar year, to charge a reasonable compensation for fiduciary services performed during that year.
3. Need not furnish a bond or other security for the faithful performance of fiduciary duties.
Section: Previous 14-9107 14-9108 14-9109 14-9110 14-9111 14-9112 14-9113 14-9114 14-9115 14-9116 14-9117 14-9118 14-9119 14-10001 14-10002 NextLast modified: October 13, 2016