(1) Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee:
Is entitled to reimbursement from custodial trust property for reasonable expensesincurred in the performance of fiduciary services;
Has a noncumulative election, to be made no later than six months after the end ofeach calendar year, to charge a reasonable compensation for fiduciary services performed during that year; and
Need not furnish a bond or other security for the faithful performance of fiduciaryduties.
Source: L. 99: Entire article added, p. 1219, § 1, effective August 4.