EPTL 7-6.15 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 7-6.14 Use of custodial property up PART 6 Uniform Transfers to Minors Act next SECTION 7-6.16 Exemption of third person from liability Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7-6.15 Custodian's expenses, compensation, and bond Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 7, PART 6 § 7-6.15 Custodian's expenses, compensation, and bond (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 7-6.4, a custodian has an election during each calendar year to charge reasonable compensation for services performed during that year. A custodian's election to charge reasonable compensation for a calendar year must be exercised during the calendar year. (c) Except as provided in paragraph (f) of 7-6.18, a custodian shall not be required to give a bond.