§ 18-7-16. 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 § 18-7-5, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.
(c) Except as provided in § 18-7-19(f), a custodian need not give a bond.
History of Section.P.L. 1985, ch. 389, § 2.
Structure Rhode Island General Laws
Chapter 18-7 - Uniform Transfers to Minors Act
Section 18-7-1. - Short title.
Section 18-7-2. - Definitions.
Section 18-7-3. - Scope and jurisdiction.
Section 18-7-4. - Nomination of custodian.
Section 18-7-5. - Transfer by gift or exercise of power of appointment.
Section 18-7-6. - Transfer authorized by will or trust.
Section 18-7-7. - Other transfer by fiduciary.
Section 18-7-8. - Transfer by obligor.
Section 18-7-9. - Receipt for custodial property.
Section 18-7-11. - Single custodianship.
Section 18-7-12. - Validity and effect of transfer.
Section 18-7-13. - Care of custodial property.
Section 18-7-14. - Powers of custodian.
Section 18-7-15. - Use of custodial property.
Section 18-7-16. - Custodian’s expenses, compensation, and bond.
Section 18-7-17. - Exemption of third person from liability.
Section 18-7-18. - Liability to third person.
Section 18-7-20. - Accounting by and determination of liability of custodian.
Section 18-7-21. - Termination of custodianship.
Section 18-7-22. - Applicability.
Section 18-7-23. - Effect on existing custodianships.
Section 18-7-24. - Uniformity of application and construction.