Virginia Code 64.2-1914: Custodian’s expenses, compensation, and bond
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A. A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties.
Terms Used In Virginia Code 64.2-1914
- Custodial property: means (i) any interest in property transferred to a custodian under this chapter and (ii) the income from and proceeds of that interest in property. See Virginia Code 64.2-1900
- Custodian: means a person so designated under § Virginia Code 64.2-1900
- Transferor: means a person who makes a transfer under this chapter. See Virginia Code 64.2-1900
B. A custodian, other than one who is a transferor under § 64.2-1903, has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.
C. Except upon petition as provided in subsection F of § 64.2-1917, a custodian need not give a bond.
1988, c. 516, § 31-51; 2012, c. 614.