Section 46-7-26 - Custodian's expenses, compensation and bond. - New Mexico Statutes

46-7-26. 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 5 [46-7-15 NMSA 1978] of the Uniform Transfers to Minors Act 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 19 [46-7-29 NMSA 1978] of the Uniform Transfers to Minors Act, a custodian need not give a bond.