404.054. Compensation and expenses of custodian--bond required, when--custodian's claims not lien on custodial property. - Missouri Statutes

Compensation and expenses of custodian--bond required,when--custodian's claims not lien on custodial property.

404.054. 1. A custodian is entitled to reimbursement fromcustodial property for reasonable expenses incurred in theperformance of the custodian's duties.

2. A custodian who is not a donor may each year elect toreceive from the custodial property reasonable compensation forservices as custodian. If an election is not affirmatively madeduring the calendar year, the right to compensation for thatyear shall lapse.

3. A custodian is not required to give a bond for theperformance of the custodian's duties unless required by courtorder.

4. No claim of a custodian for expenses or compensationshall constitute a claim or lien on custodial propertytransferred by the custodian to a third person or to the minor.

(L. 1985 S.B. 35, et al. § 6)