Section 11-50-116 - 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 11-50-105, 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 section 11-50-119 (6), a custodian need not give a bond.L. 84: Entire article R&RE, p. 390, § 1, effective July 1.This section is similar to former § 11-50-106 as it existed prior to 1984.