RS 2260.14 - Expenses, compensation, and bond of custodial trustee
Except 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.
(3) Need not furnish a bond or other security for the faithful performance of fiduciary duties.
Acts 1995, No. 655, §1, eff. Jan. 1, 1998.