Chapter 166A Custodial Trusts (Uniform Act)

Short title.

Definitions.

“Adult” defined.

“Beneficiary” defined.

“Conservator” defined.

“Court” defined.

“Custodial trust property” defined.

“Custodial trustee” defined.

“Guardian” defined.

“Incapacitated” defined.

“Legal representative” defined.

“Member of the beneficiary’s family” defined.

“Person” defined.

“Personal representative” defined.

“State” defined.

“Transferor” defined.

“Trust company” defined.

Custodial trust; general.

Custodial trustee for future payment or transfer.

Form and effect of receipt and acceptance by custodial trustee; jurisdiction.

Transfer to custodial trustee by fiduciary or obligor; facility of payment.

Multiple beneficiaries; separate custodial trusts; survivorship.

General duties of custodial trustee.

General powers of custodial trustee.

Use of custodial trust property.

Determination of incapacity; effect.

Exemption of third person from liability.

Liability to third person.

Declination, resignation, incapacity, death or removal of custodial trustee; designation of successor custodial trustee.

Expenses, compensation and bond of custodial trustee.

Reporting and accounting by custodial trustee; determination of liability of custodial trustee.

Limitations of action against custodial trustee.

Distribution on termination.

Methods and forms for creating custodial trusts.

Applicable law.

Uniformity of application and construction.