Section 35-5A-16 Custodian's expenses, compensation, and bond. - Alabama Statutes

Section 35-5A-16

Custodian's expenses, compensation, and bond.

(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 35-5A-5, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.

(c) Except as provided in subsection (f) of section 35-5A-19, a custodian need not give a bond.

(Acts 1986, No. 86-453, p. 819, §15.)