Section 15: Custodian's expenses, compensation, and bond
78 words·~1 min read·
/ma/part-ii/title-ii/chapter-201a/15A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 15.
(a)A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.
(b)Except for one who is a transferor under section four, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.
(c)Except as provided in paragraph
(f)of section eighteen, a custodian need not give a bond for the faithful performance of his duties.