Texas § 141.016 CUSTODIAN'S EXPENSES, COMPENSATION, AND BOND.

Texas Statutes

§ 141.016 — CUSTODIAN'S EXPENSES, COMPENSATION, AND BOND.

Texas § 141.016

Code PRProperty Code

This text of Texas § 141.016 (CUSTODIAN'S EXPENSES, COMPENSATION, AND BOND.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Property Code Code Ann. § 141.016 (2026).

Text

Sec. 141.016. 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 Section 141.005 , a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed by the custodian during that year.

(c)Except as provided by Section 141.019 (f), a custodian is not required to give a bond.

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Sec. 141.016. 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 Section 141.005 , a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed by the custodian during that year.
(c) Except as provided by Section 141.019 (f), a custodian is not required to give a bond.

Legislative History

Added by Acts 1995, 74th Leg., ch. 1043, Sec. 1, eff. Sept. 1, 1995. Renumbered from Property Code Sec. 16 by Acts 1997, 75th Leg., ch. 165, Sec. 31.01(72), eff. Sept. 1, 1997.