Utah Code 75A-8-116. Custodian’s expenses, compensation, and bond
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(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 Utah Code 75A-8-116
- Custodial property: means :(7)(a) any interest in property transferred to a custodian under this chapter; and(7)(b) the income from and proceeds of that interest in property. See Utah Code 75A-8-102
- Custodian: means a person so designated under Section
75A-8-110 or a successor or substitute custodian designated under Section75A-8-119 . See Utah Code 75A-8-102- Transferor: means a person who makes a transfer under this chapter. See Utah Code 75A-8-102
(2) Except for one who is a transferor under Section75A-8-105 , 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 Subsection75A-8-119 (6), a custodian need not give a bond. - Custodian: means a person so designated under Section