529.13 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
(3) need not furnish a bond or other security for the faithful performance of fiduciary duties.
History: 1990 c 476 s 13