Section 554.540 - Custodian; expenses; compensation; bond(1) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. Except for a person who is a transferor under section 8, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.(2) Except as provided in section 24, a custodian need not give a bond.1998, Act 433, Imd. Eff. 12/30/1998.