Rhode Island § 18-13-14 § 18-13-14. Expenses, compensation, and bond of custodial trustee.

Rhode Island Statutes

§ 18-13-14 — § 18-13-14. Expenses, compensation, and bond of custodial trustee.

Rhode Island·Title 18 Fiduciaries·Ch. 18-13 Rhode Island Uniform Custodial Trust Act

§ 18-13-14. 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 non-cumulative election, to be made no later than six (6) months after the end
            of each calendar year, to charge a reasonable compensation for fiduciary services
            performed during that year; and
         
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§ 18-13-14. 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 non-cumulative election, to be made no later than six (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.

Rhode Island § 18-13-14 (§ 18-13-14. Expenses, compensation, and bond of custodial trustee.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.