141.016 – CUSTODIAN'S EXPENSES, COMPENSATION, AND BOND.
Texas Property Code § 141.016
Summary
This law outlines the rights of custodians regarding reimbursement for expenses and compensation for their services. It specifies that custodians can charge for reasonable expenses and have an annual option to charge for their services, excluding certain transferors.
Custodians can be reimbursed for reasonable expenses.
Annual election to charge for services is noncumulative.
Certain transferors are exempt from compensation charges.
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In simple terms: Learn about Texas's CUSTODIAN'S EXPENSES, COMPENSATION, AND BOND. law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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