Indiana Code 30-2-8.5-30. Custodian’s expenses, compensation, and bond
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Sec. 30. (a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties.
(c) A custodian’s election to charge reasonable compensation for a calendar year must be exercised during the calendar year.
(b) Except for a person who is a transferor under section 19 of this chapter, a custodian has an election during each calendar year to charge reasonable compensation for services performed during that year.
Terms Used In Indiana Code 30-2-8.5-30
- custodial property: means :
Indiana Code 30-2-8.5-4
- custodian: means a person designated as a custodian under section 24 of this chapter or a successor or substitute custodian designated under section 33 of this chapter. See Indiana Code 30-2-8.5-5
- person: means an individual, corporation, organization, or other legal entity. See Indiana Code 30-2-8.5-11
- transferor: means a person who makes a transfer under this chapter. See Indiana Code 30-2-8.5-15
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(d) Except as provided in section 33(f) of this chapter, a custodian is not required to give a bond.
As added by P.L.267-1989, SEC.2.