Statute · New York Estates, Powers & Trusts Law
N.Y. Est. Powers & Trusts Law § 7-6.15 — Custodian's expenses, compensation, and bond
N.Y. Est. Powers & Trusts Law § 7-6.15
- Type
- Statute
- Source
- New York Estates, Powers & Trusts Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 7-6.15 Custodian's expenses, compensation, and bond
Citator
N.Y. Est. Powers & Trusts Law § 7-6.15 — Custodian's expenses, compensation, and bond is in force in the current edition of the Code, and nothing recorded condemns it.
§ 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.