North Carolina General Statutes § 33B-14 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)        May charge, no later than six months after the end of each calendar year, a reasonable compensation for fiduciary services performed during that year; and

(3)        Need not furnish a bond or other security for the faithful performance of fiduciary duties. (1995, c. 486, s. 1.)

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Last modified: March 23, 2014