Custodian's expenses, compensation, and bond

A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. Except for one who is a transferor under § 55-10A-4 , a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year. Except as provided in § 55-10A-20 , a custodian need not give a bond. Source: SL 1986, ch 409, § 17.