Missouri Laws 404.054 – Compensation and expenses of custodian — bond required, when — custodian’s ..
Current as of: 2023 | Check for updates
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1. A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties.
2. A custodian who is not a donor may each year elect to receive from the custodial property reasonable compensation for services as custodian. If an election is not affirmatively made during the calendar year, the right to compensation for that year shall lapse.
Terms Used In Missouri Laws 404.054
- Donor: The person who makes a gift.
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Property: includes real and personal property. See Missouri Laws 1.020
3. A custodian is not required to give a bond for the performance of the custodian’s duties unless required by court order.
4. No claim of a custodian for expenses or compensation shall constitute a claim or lien on custodial property transferred by the custodian to a third person or to the minor.