{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-913.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-913.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-913.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-913.html"}],"law_id":68794,"edition_id":1,"section_id":68794,"structure_id":13564,"section_number":"64.2-913","catch_line":"Expenses, compensation, and bond of custodial trustee","history":"1990, c. 264, \u00a7 55-34.14; 2012, c. 614.","full_text":"Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee:\n\n1\n\nIs entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;2\n\nHas a noncumulative election, to be made no later than six months after the end of each calendar year, to charge a reasonable compensation for fiduciary services performed during that year; and3\n\nNeed not furnish a bond or other security for the faithful performance of fiduciary duties.","order_by":null,"text":{"0":{"id":249018,"text":"Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":249019,"text":"Is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":249020,"text":"Has a noncumulative election, to be made no later than six months after the end of each calendar year, to charge a reasonable compensation for fiduciary services performed during that year; and","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":249021,"text":"Need not furnish a bond or other security for the faithful performance of fiduciary duties.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":13564,"edition_id":1,"name":"Uniform Custodial Trust Act","identifier":"9","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:45:15","date_modified":"2026-06-26 03:45:15","permalink":{"id":274735,"object_type":"structure","relational_id":13564,"identifier":"9","token":"64.2\/III\/9","url":"\/64.2\/III\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":66999,"structure_id":13564,"section_number":"64.2-900","catch_line":"Definitions","url":"\/64.2-900\/","token":"64.2\/III\/9\/64.2-900","metadata":false},{"id":57024,"structure_id":13564,"section_number":"64.2-901","catch_line":"Custodial trust; creation and termination; general provisions","url":"\/64.2-901\/","token":"64.2\/III\/9\/64.2-901","metadata":false},{"id":74644,"structure_id":13564,"section_number":"64.2-902","catch_line":"Custodial trustee for future payment or transfer","url":"\/64.2-902\/","token":"64.2\/III\/9\/64.2-902","metadata":false},{"id":58164,"structure_id":13564,"section_number":"64.2-903","catch_line":"Form and effect of receipt and acceptance by custodial trustee; jurisdiction","url":"\/64.2-903\/","token":"64.2\/III\/9\/64.2-903","metadata":false},{"id":77892,"structure_id":13564,"section_number":"64.2-904","catch_line":"Transfer to custodial trustee by fiduciary or obligor; facility of payment","url":"\/64.2-904\/","token":"64.2\/III\/9\/64.2-904","metadata":false},{"id":68669,"structure_id":13564,"section_number":"64.2-905","catch_line":"Multiple beneficiaries; separate custodial trusts; survivorship","url":"\/64.2-905\/","token":"64.2\/III\/9\/64.2-905","metadata":false},{"id":64170,"structure_id":13564,"section_number":"64.2-906","catch_line":"General duties of custodial trustee","url":"\/64.2-906\/","token":"64.2\/III\/9\/64.2-906","metadata":false},{"id":73358,"structure_id":13564,"section_number":"64.2-907","catch_line":"General powers of custodial trustee","url":"\/64.2-907\/","token":"64.2\/III\/9\/64.2-907","metadata":false},{"id":54526,"structure_id":13564,"section_number":"64.2-908","catch_line":"Use of custodial trust property","url":"\/64.2-908\/","token":"64.2\/III\/9\/64.2-908","metadata":false},{"id":68505,"structure_id":13564,"section_number":"64.2-909","catch_line":"Determination of incapacity; effect","url":"\/64.2-909\/","token":"64.2\/III\/9\/64.2-909","metadata":false},{"id":85961,"structure_id":13564,"section_number":"64.2-910","catch_line":"Exemption of third person from liability","url":"\/64.2-910\/","token":"64.2\/III\/9\/64.2-910","metadata":false},{"id":60757,"structure_id":13564,"section_number":"64.2-911","catch_line":"Liability to third person; exceptions","url":"\/64.2-911\/","token":"64.2\/III\/9\/64.2-911","metadata":false},{"id":84334,"structure_id":13564,"section_number":"64.2-912","catch_line":"Declination, resignation, incapacity, death, or removal of custodial trustee; designation of successor","url":"\/64.2-912\/","token":"64.2\/III\/9\/64.2-912","metadata":false},{"id":68794,"structure_id":13564,"section_number":"64.2-913","catch_line":"Expenses, compensation, and bond of custodial trustee","url":"\/64.2-913\/","token":"64.2\/III\/9\/64.2-913","metadata":false},{"id":67869,"structure_id":13564,"section_number":"64.2-914","catch_line":"Reporting and accounting by custodial trustee; determination of liability","url":"\/64.2-914\/","token":"64.2\/III\/9\/64.2-914","metadata":false},{"id":61760,"structure_id":13564,"section_number":"64.2-915","catch_line":"Limitations of action against custodial trustee","url":"\/64.2-915\/","token":"64.2\/III\/9\/64.2-915","metadata":false},{"id":58406,"structure_id":13564,"section_number":"64.2-916","catch_line":"Distribution on termination","url":"\/64.2-916\/","token":"64.2\/III\/9\/64.2-916","metadata":false},{"id":75814,"structure_id":13564,"section_number":"64.2-917","catch_line":"Methods and forms for creating custodial trusts","url":"\/64.2-917\/","token":"64.2\/III\/9\/64.2-917","metadata":false},{"id":71807,"structure_id":13564,"section_number":"64.2-918","catch_line":"Applicable law","url":"\/64.2-918\/","token":"64.2\/III\/9\/64.2-918","metadata":false}],"previous_section":{"id":84334,"structure_id":13564,"section_number":"64.2-912","catch_line":"Declination, resignation, incapacity, death, or removal of custodial trustee; designation of successor","url":"\/64.2-912\/","token":"64.2\/III\/9\/64.2-912","metadata":false},"next_section":{"id":67869,"structure_id":13564,"section_number":"64.2-914","catch_line":"Reporting and accounting by custodial trustee; determination of liability","url":"\/64.2-914\/","token":"64.2\/III\/9\/64.2-914","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-913\/","history_text":"

This law was first created in 1990. The record of its establishment is cataloged in chapter 264 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1990 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2012, chapter 614<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":274789,"object_type":"law","relational_id":68794,"identifier":"64.2-913","token":"64.2\/III\/9\/64.2-913","url":"\/64.2-913\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-913\/","token":"64.2\/III\/9\/64.2-913","dublin_core":{"Title":"Expenses, compensation, and bond of custodial trustee","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-913","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary<\/span>, or by court order<\/span>, a custodial trustee<\/span>:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Is entitled to reimbursement from custodial trust property<\/span> for reasonable expenses incurred in the performance of fiduciary<\/span> services; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Has a noncumulative election, to be made no later than six months after the end of each calendar year, to charge a reasonable compensation for fiduciary<\/span> services performed during that year; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Need not furnish a bond<\/span> or other security for the faithful performance of fiduciary<\/span> duties. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEXPENSES, COMPENSATION, AND BOND OF CUSTODIAL TRUSTEE (\u00a7 64.2-913)\n\nExcept as otherwise provided in the instrument creating the custodial trust, in\nan agreement with the beneficiary, or by court order, a custodial trustee:\n\n1. Is entitled to reimbursement from custodial trust property for reasonable\nexpenses incurred in the performance of fiduciary services;\n\n2. Has a noncumulative election, to be made no later than six months after the\nend of each calendar year, to charge a reasonable compensation for fiduciary\nservices performed during that year; and\n\n3. Need not furnish a bond or other security for the faithful performance of\nfiduciary duties.\n\nHISTORY: 1990, c. 264, \u00a7 55-34.14; 2012, c. 614.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}