{"data":{"id":"us-mi/mich.-comp.-laws-554.540","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 554.540","heading":"Custodian; expenses; compensation; bond.","body":"Sec. 20.\n\nA custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. Except for a person who is a transferor under section 8, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.\n\nExcept as provided in section 24, a custodian need not give a bond.","path":["MI Code","Chapter 554","Act Act-433-of-1998"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-554-540","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"d80fcbb668311ab5b2e64bbb81912816c276d4dc7cbacaa04943eea8b228069e","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-554.539","next":"us-mi/mich.-comp.-laws-554.541"},"notice":"GroundRules: Original legal text. Not legal advice."}