Colorado § 11-50-116 - Custodian's expenses, compensation, and bond.
Full text of Colorado Colorado Revised Statutes § 11-50-116 — Custodian's expenses, compensation, and bond., with citation guidance and answers to common questions.
§ 11-50-116. Custodian's expenses, compensation, and bond.
(1) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.
(2) Except for one who is a transferor under section 11-50-105, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.
(3) Except as provided in section 11-50-119 (6), a custodian need not give a bond.
Source: L. 84: Entire article R&RE, p. 390, § 1, effective July 1.
Editor's note: This section is similar to former § 11-50-106 as it existed prior to 1984.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 11-50-116
What does Colorado Revised Statutes § 11-50-116 cover?
Section 11-50-116 ("Custodian's expenses, compensation, and bond.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 11-50-116?
A common citation format is "Colorado Revised Statutes § 11-50-116" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 11-50-116 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.