Massachusetts General Laws
Chapter 203b - Uniform Custodial Trust Act
Section 14 - Expenses; Bond

Section 14. 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) shall be entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;
(2) shall have 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 such year; and
(3) need not furnish a bond or other security for the faithful performance of fiduciary duties.