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the New Mexico Statutes
2011 New Mexico Statutes
Chapter 46: Fiduciaries and Trusts
Article 7: Transfers to Minors, 46-7-1 through 46-7-34
Section 46-7-26: Custodian's expenses, compensation and bond.
Universal Citation:
NM Stat § 46-7-26 (1996 through 1st Sess 50th Legis)
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46-7-26. 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 Section 5 [46-7-15 NMSA 1978] of the Uniform Transfers to Minors Act a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.
C. Except as provided in Subsection F of Section 19 [46-7-29 NMSA 1978] of the Uniform Transfers to Minors Act, a custodian need not give a bond.
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