[§554B-14]  Expenses, compensation, and bond
of custodial trustee.  Except as provided otherwise in the custodial trust
instrument, in an agreement with the beneficiary, or by court order:



(1)  A custodial trustee is entitled to reimbursement
from custodial trust property for reasonable expenses incurred in the
performance of fiduciary services;



(2)  A custodial trustee has a noncumulative election
to be made no later than six months following the end of each calendar year to
charge a reasonable compensation for fiduciary services performed during that
year; and



(3)  A custodial trustee need not post a bond for
faithful performance of the custodial trust. [L 1989, c 76, pt of §1]