(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 21-304, a custodian has a non-cumulative election during each calendar year to charge reasonable compensation for services performed during that year.
(c) Except as provided in section 21-318(f), a custodian need not give a bond.
(Mar. 12, 1986, D.C. Law 6-87, § 2(a), 33 DCR 278.)
1981 Ed., § 21-315.
Uniform Law: This section is based upon § 15 of the Uniform Transfers to Minors Act.
Structure District of Columbia Code
Title 21 - Fiduciary Relations and Persons with Mental Illness. [Enacted title]
Chapter 3 - Transfers to Minors; Uniform Law
§ 21–302. Scope and jurisdiction
§ 21–303. Nomination of custodian
§ 21–304. Transfer by gift or exercise of power of appointment
§ 21–305. Transfer authorized by will or trust
§ 21–306. Other transfers by fiduciary
§ 21–308. Receipt for custodial property
§ 21–310. Single custodianship
§ 21–311. Validity and effect of transfer
§ 21–312. Care of custodial property
§ 21–314. Use of custodial property
§ 21–315. Custodian’s expenses; compensation; bond
§ 21–316. Exemption of third person from liability
§ 21–317. Liability to third persons
§ 21–319. Accounting by and determination of liability of custodian
§ 21–320. Termination of custodianship
§ 21–322. Effect of existing custodianships