N.Y. Estates, Powers & Trusts Law Section 7-6.15
Custodian’s expenses, compensation, and bond

§ 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.

Source: Section 7-6.15 — Custodian's expenses, compensation, and bond, https://www.­nysenate.­gov/legislation/laws/EPT/7-6.­15 (updated Sep. 22, 2014; accessed May 4, 2024).

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Accessed:
May 4, 2024

Last modified:
Sep. 22, 2014

§ 7-6.15’s source at nysenate​.gov

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