35-7-116 - Custodian's expenses, compensation, and bond. - Tennessee Statutes

35-7-116. 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 § 35-7-105, a custodian has a non-cumulative election during each calendar year to charge reasonable compensation for services performed during that year.

(c)  Except as provided in § 35-7-119(f), a custodian need not give a bond.

[Acts 1992, ch. 664, § 1; T.C.A. § 35-7-216.]