CODE OF VIRGINIA

EXPENSES, COMPENSATION, AND BOND OF CUSTODIAL TRUSTEE (§ 64.2-913)

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.  Is entitled to reimbursement from custodial trust property for reasonable
   expenses incurred in the performance of fiduciary services;

   2.  Has 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 that year; and

   3.  Need not furnish a bond or other security for the faithful performance of
   fiduciary duties.

HISTORY: 1990, c. 264, § 55-34.14; 2012, c. 614.