Tex. Prop. Code § 141.016

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 141.016 - 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 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.

Tex. Prop. Code § 141.016

Added by Acts 1995, 74th Leg., ch. 1043, Sec. 1, eff. 9/1/1995. Renumbered from Property Code Sec. 16 by Acts 1997, 75th Leg., ch. 165, Sec. 31.01(72), eff. 9/1/1997.