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9-26-215. Custodian's expenses — Compensation — Bond.
Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-215. Custodian's expenses — Compensation — 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 § 9-26-204, a custodian shall have a non-cumulative election during each calendar year to charge reasonable compensation for services performed during that year.
(c) Except as provided in § 9-26-218(f), a custodian shall not be required to give a bond.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-215
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:9-26-215
Source file: gov.ar.code.title.09.odt
Pages: Not recorded – Not recorded
Passage SHA-256: ca65df8a91df355fd5e7e8307df0960dbeb93efcba2c5e3f08003339e5596106
Source location: content.xml paragraph 13748
Stored source content
9-26-215. Custodian's expenses — Compensation — 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 § 9-26-204, a custodian shall have a non-cumulative election during each calendar year to charge reasonable compensation for services performed during that year.
(c) Except as provided in § 9-26-218(f), a custodian shall not be required to give a bond.
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Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-204. Transfer by gift or exercise of power of appointment.
A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to § 9-26-209.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-204
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 9-26-204. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-218. Renunciation, resignation, death, or removal of custodian — Designation of successor custodian.
(a) A person nominated under § 9-26-203 or designated under § 9-26-209 as custodian may decline to serve by delivering a valid disclaimer in the form prescribed by § 28-2-106 [repealed] to the person who made the nomination or to the transferor or the transferor's legal representative. If the event giving rise to a transfer has not occurred and no substitute custodian able, willing, and eligible to serve was nominated under § 9-26-203, the person who made the nomination may nominate a substitute custodian under § 9-26-203; otherwise the transferor or the transferor's legal representative shall designate a substitute custodian at the time of the transfer, in either case from among the persons eligible to serve as custodian for that kind of property under § 9-26-209(a). The custodian so designated shall have the rights of a successor custodian.
(b) A custodian at any time may designate a trust company or an adult other than a transferor under § 9-26-204 as successor custodian by executing and dating an instrument of designation before a subscribing witness other than the successor. If the instrument of designation does not contain or is not accompanied by the resignation of the custodian, the designation of the successor shall not take effect until the custodian resigns, dies, becomes incapacitated, or is removed.
(c) A custodian may resign at any time by delivering written notice to the minor if the minor has attained the age of fourteen (14) years and to the successor custodian and by delivering the custodial property to the successor custodian.
(d) If a custodian is ineligible, dies, or becomes incapacitated without having effectively designated a successor
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-218
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 9-26-218. This identifies an authority to review, not proof of applicability.