Montana Code 72-26-704. Custodian’s expenses, compensation, and bond
72-26-704. Custodian’s expenses, compensation, and bond. (1) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties.
Terms Used In Montana Code 72-26-704
- Custodial property: means :
(a)any interest in property transferred to a custodian under this chapter; and
(b)the income from and proceeds of that interest in property. See Montana Code 72-26-502
- Custodian: means a person so designated under 72-26-603 or a successor or substitute custodian designated under 72-26-801. See Montana Code 72-26-502
- Transferor: means a person who makes a transfer under this chapter. See Montana Code 72-26-502
(2)Except for one who is a transferor under 72-26-604, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.
(3)Except as provided in 72-26-801(6), a custodian need not give a bond.