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 non-cumulative election, to be made no later than six (6) months after the end of each calendar year, to charge a reasonable compensation for fiduciary services performed during that year; and (3) Need not furnish a bond or other security for the faithful performance of fiduciary duties. History of Section.P.L. 1988, ch. 623, § 1.
Rhode Island Legal Code