EPTL § 7-6.15

Custodian's expenses, compensation, and bond · as in force on May 31, 2026

§ 7-6.15 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 7-6.4, a custodian has an election during each calendar year to charge reasonable compensation for services performed during that year. A custodian's election to charge reasonable compensation for a calendar year must be exercised during the calendar year.

Official sourcehttps://www.nysenate.gov/legislation/laws/EPT/7-6.15

In plain English

(a) A custodian may reimburse reasonable expenses from custodial property.
(b) Except for a transferor under § 7-6.4, the custodian may elect during each calendar year to charge reasonable compensation for that year.
(c) No bond is required except as § 7-6.18(f) provides. ★

Marked in the text: penalties, time limits, sums of money. Editorial emphasis added by this edition; it does not appear in the statute as enacted.

In print

This provision appears in Volume 1 — The Surrogate's Court in Plain English; Volume 3 — The Surrogate's Court: Court Rules & the EPTL; Volume 5 — Your Career: Surrogate's Court in Plain English.