Custodian's expenses, compensation, and bond
Known as the Tennessee Uniform Transfers to Minors Act
The act spans §§ 35–35 (26 sections).
Acts 1992, ch. 664, § 1; T.C.A. § 35-7-216.
(1) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.
(2) 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.
(3) Except as provided in § 35-7-119(f), a custodian need not give a bond.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.