Section 68-1320 – UNIFORMITY OF APPLICATION AND CONSTRUCTION.
68-1320. UNIFORMITY OF APPLICATION AND CONSTRUCTION. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it. History: [68-1320, added 1989, ch. 230, sec. 1, p. 559.]
Section 68-1321 – SHORT TITLE.
68-1321. SHORT TITLE. This chapter may be cited as the "Idaho Uniform Custodial Trust Act." History: [68-1321, added 1989, ch. 230, sec. 1, p. 559.]
Section 68-1322 – SEVERABILITY.
68-1322. SEVERABILITY. If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable. History: [68-1322, […]
Section 68-1308 – GENERAL POWERS OF CUSTODIAL TRUSTEE.
68-1308. GENERAL POWERS OF CUSTODIAL TRUSTEE. (1) A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only. (2) The provisions of this […]
Section 68-1309 – USE OF CUSTODIAL TRUST PROPERTY.
68-1309. USE OF CUSTODIAL TRUST PROPERTY. (1) A custodial trustee shall pay to the beneficiary or expend for the beneficiary’s use and benefit so much or all of the custodial trust property as the beneficiary while not incapacitated may direct from time to time. (2) If the beneficiary is incapacitated, the custodial trustee shall expend […]
Section 68-1301 – DEFINITIONS.
68-1301. DEFINITIONS. As used in this chapter: (1) "Adult" means an individual who is at least eighteen (18) years of age. (2) "Beneficiary" means an individual for whom property has been transferred to or held under a declaration of trust by a custodial trustee for the individual’s use and benefit under this chapter. (3) "Conservator" […]
Section 68-1302 – CUSTODIAL TRUST — GENERAL.
68-1302. CUSTODIAL TRUST — GENERAL. (1) A person may create a custodial trust of property by a written transfer of the property to another person, evidenced by registration or by other instrument of transfer, executed in any lawful manner, naming as beneficiary, an individual who may be the transferor, in which the transferee is designated, […]
Section 68-1303 – CUSTODIAL TRUSTEE FOR FUTURE PAYMENT OR TRANSFER.
68-1303. CUSTODIAL TRUSTEE FOR FUTURE PAYMENT OR TRANSFER. (1) A person having the right to designate the recipient of property payable or transferable upon a future event may create a custodial trust upon the occurrence of the future event by designating in writing the recipient, followed in substance by: "as custodial trustee for (name of […]
Section 68-1304 – FORM AND EFFECT OF RECEIPT AND ACCEPTANCE BY CUSTODIAL TRUSTEE — JURISDICTION.
68-1304. FORM AND EFFECT OF RECEIPT AND ACCEPTANCE BY CUSTODIAL TRUSTEE — JURISDICTION. (1) Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this chapter upon the custodial trustee’s acceptance, express or implied, of the custodial trust property. (2) The custodial trustee’s acceptance may be evidenced by a […]
Section 68-1305 – TRANSFER TO CUSTODIAL TRUSTEE BY FIDUCIARY OR OBLIGOR — FACILITY OF PAYMENT.
68-1305. TRANSFER TO CUSTODIAL TRUSTEE BY FIDUCIARY OR OBLIGOR — FACILITY OF PAYMENT. (1) Unless otherwise directed by an instrument designating a custodial trustee pursuant to section 68-1303, Idaho Code, a person including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a […]