35-7-116 - Custodian's expenses, compensation, and bond.
35-7-116. Custodian's expenses, compensation, and bond.
(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 § 35-7-105, a custodian has a non-cumulative election during each calendar year to charge reasonable compensation for services performed during that year.
(c) Except as provided in § 35-7-119(f), a custodian need not give a bond.
[Acts 1992, ch. 664, § 1; T.C.A. § 35-7-216.]