Haw. Rev. Stat. § 554B-14

Current through the 2024 Legislative Session

Section 554B-14 - Expenses, compensation, and bond of custodial trustee

Except as provided otherwise in the custodial trust instrument, in an agreement with the beneficiary, or by court order:

(1) A custodial trustee is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;

(2) A custodial trustee has a noncumulative election to be made no later than six months following the end of each calendar year to charge a reasonable compensation for fiduciary services performed during that year; and

(3) A custodial trustee need not post a bond for faithful performance of the custodial trust.

HRS § 554B-14

L 1989, c 76, pt of §1