District of Columbia § 19-1114 Expenses, compensation, and bond of custodial trustee.

District of Columbia Statutes

§ 19-1114 — Expenses, compensation, and bond of custodial trustee.

District of Columbia § 19-1114

Title 19Descent, Distribution, and Trusts. [Enacted title]

Ch. 11Custodial Trusts; Uniform Law.

This text of District of Columbia § 19-1114 (Expenses, compensation, and bond of custodial trustee.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 19-1114 (2026).

Text

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 6 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.

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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 6 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.