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2019 New Mexico Statutes
Chapter 46 - Fiduciaries and Trusts
Article 7 - Transfers to Minors
Section 46-7-26 - Custodian's expenses, compensation and bond.
Universal Citation: NM Stat § 46-7-26 (2019)
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.
History: Laws 1989, ch. 357, ยง 16.
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