2017 Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 9 - Uniform Custodial Trust Act
§ 64.2-913. Expenses, compensation, and bond of custodial trustee

Universal Citation: VA Code § 64.2-913 (2017)

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; and

3. Need not furnish a bond or other security for the faithful performance of fiduciary duties.

1990, c. 264, ยง 55-34.14; 2012, c. 614.

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