Texas Property Code 141.016 – Custodian’s Expenses, Compensation, and Bond
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(a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties.
(b) Except for one who is a transferor under Section 141.005, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed by the custodian during that year.
Terms Used In Texas Property Code 141.016
- Property: means real and personal property. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) Except as provided by Section 141.019(f), a custodian is not required to give a bond.