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Tex. Prop. Code § 141.016

CUSTODIAN'S EXPENSES, COMPENSATION, AND BOND

Known as the Texas Uniform Transfers to Minors Act

The act spans §§ 141–141 (25 sections).

Added by Acts 1995, 74th Leg., ch. 1043, Sec. 1, eff

(a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.

(b) Except for one who is a transferor under Section 141.005, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed by the custodian during that year.

(c) Except as provided by Section 141.019(f), a custodian is not required to give a bond.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.