N.C. Gen. Stat. § 33B-14
Expenses, compensation, and bond of custodial trustee
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee:
Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee:
(1) Is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;
(1) Is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;
(2) May charge, no later than six months after the end of each calendar year, a reasonable compensation for fiduciary services performed during that year; and
(2) May charge, no later than six months after the end of each calendar year, a reasonable compensation for fiduciary services performed during that year; and
(3) Need not furnish a bond or other security for the faithful performance of fiduciary duties.
(3) Need not furnish a bond or other security for the faithful performance of fiduciary duties.
History
(1995, c. 486, s. 1.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.