14-9114
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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. |