75A-8-116. Custodian's expenses, compensation, and bond.
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Effective 9/1/2024
75A-8-116. Custodian's expenses, compensation, and bond.
(1)A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.
(2)Except for one who is a transferor under Section 75A-8-105 , a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.
(3)Except as provided in Subsection 75A-8-119 (6), a custodian need not give a bond.
Renumbered and Amended by Chapter 364 , 2024 General Session