Virginia § 64.2-913 Expenses, compensation, and bond of custodial trustee

Virginia Statutes

§ 64.2-913 — Expenses, compensation, and bond of custodial trustee

Virginia § 64.2-913

Title 64.2WILLS, TRUSTS, AND FIDUCIARIES

Subtitle IIITRUSTS

Ch. 9UNIFORM CUSTODIAL TRUST ACT

This text of Virginia § 64.2-913 (Expenses, compensation, and bond of custodial trustee) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 64.2-913 (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 six 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 six 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.