2014 Louisiana Laws
Revised Statutes
TITLE 9 - Civil Code-Ancillaries
RS 9:2260.14 - Expenses, compensation, and bond of custodial trustee
§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.
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