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the New York Laws
2020 New York Laws
EPT - Estates, Powers and Trusts
Article 7 - Trusts
Part 6 - Uniform Transfers to Minors Act
7-6.15 - Custodian's Expenses, Compensation, and Bond
Universal Citation: NY Est Pow & Trusts L § 7-6.15 (2020)
§ 7-6.15 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 7-6.4, a custodian has an election during each calendar year to charge reasonable compensation for services performed during that year. A custodian's election to charge reasonable compensation for a calendar year must be exercised during the calendar year.
(c) Except as provided in paragraph (f) of 7-6.18, a custodian shall not be required to give a bond.
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