§ 18-13-14 - Expenses, compensation, and bond of custodial trustee. - Rhode-island Statutes

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SECTION 18-13-14

§ 18-13-14 Expenses, compensation, andbond of custodial trustee. – Except as otherwise provided in the instrument creating the custodial trust, inan agreement with the beneficiary, or by court order, a custodial trustee:

(1) Is entitled to reimbursement from custodial trustproperty for reasonable expenses incurred in the performance of fiduciaryservices;

(2) Has a non-cumulative election, to be made no later thansix (6) months after the end of each calendar year, to charge a reasonablecompensation for fiduciary services performed during that year; and

(3) Need not furnish a bond or other security for thefaithful performance of fiduciary duties.

State Codes and Statutes

Statutes > Rhode-island > Title-18 > Chapter-18-13 > 18-13-14

SECTION 18-13-14

§ 18-13-14 Expenses, compensation, andbond of custodial trustee. – Except as otherwise provided in the instrument creating the custodial trust, inan agreement with the beneficiary, or by court order, a custodial trustee:

(1) Is entitled to reimbursement from custodial trustproperty for reasonable expenses incurred in the performance of fiduciaryservices;

(2) Has a non-cumulative election, to be made no later thansix (6) months after the end of each calendar year, to charge a reasonablecompensation for fiduciary services performed during that year; and

(3) Need not furnish a bond or other security for thefaithful performance of fiduciary duties.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-18 > Chapter-18-13 > 18-13-14

SECTION 18-13-14

§ 18-13-14 Expenses, compensation, andbond of custodial trustee. – Except as otherwise provided in the instrument creating the custodial trust, inan agreement with the beneficiary, or by court order, a custodial trustee:

(1) Is entitled to reimbursement from custodial trustproperty for reasonable expenses incurred in the performance of fiduciaryservices;

(2) Has a non-cumulative election, to be made no later thansix (6) months after the end of each calendar year, to charge a reasonablecompensation for fiduciary services performed during that year; and

(3) Need not furnish a bond or other security for thefaithful performance of fiduciary duties.