Current through Register Vol. 49, No. 8, August 19, 2024
Section 529.13 - EXPENSES, COMPENSATION, AND BOND OF CUSTODIAL TRUSTEEExcept 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 no later than six months after the end of each calendar year, to charge 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.