North Carolina General Statutes Chapter 33B. North Carolina Uniform Custodial Trust Act § 33B-14. Expenses, compensation, and bond of custodial trustee
Current as of January 01, 2020 | Updated by FindLaw Staff
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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) May charge, no later than six months after the end of each calendar year, 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.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 33B. North Carolina Uniform Custodial Trust Act § 33B-14. Expenses, compensation, and bond of custodial trustee - last updated January 01, 2020 | https://codes.findlaw.com/nc/chapter-33b-north-carolina-uniform-custodial-trust-act/nc-gen-st-sect-33b-14.html
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