Section 13-312 – Duties and Powers of Custodian
(a) A custodian shall: (1) Take control of custodial property; (2) Register or record title to custodial property if appropriate; and (3) Collect, hold, manage, invest, and reinvest custodial property. (b) (1) Except as provided in paragraph (2) of this subsection, in dealing with custodial property: (i) A custodian shall observe the standard of care that would be observed by a prudent […]
Section 13-313 – Rights of Custodian; Liability
(a) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers, and authority in that capacity only. (b) This section does not relieve a custodian from liability for breach of § 13-312 of […]
Section 13-314 – Delivery or Payment to Minor or for Minor’s Use and Benefit
(a) In this section, “disabled” has the meaning stated in 42 U.S.C. § 1382c(a)(3). (b) A custodian may deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to: (1) The […]
Section 13-315 – Compensation of Custodian; Bond
(a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties. (b) Except for one who is a transferor under § 13-304 of this subtitle, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year. (c) Except as […]
Section 13-316 – Liability of Third Persons Dealing With Custodian
A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining: (1) The validity of the purported custodian’s designation; […]
Section 13-317 – Claims Against Custodial Property
(a) A claim based on any of the following may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable: (1) On a contract entered into by a custodian acting in a custodial capacity; (2) For an obligation arising from the ownership […]
Section 13-318 – Refusal of Nomination; Designation of Successor; Resignation; Lapse of Custodian; Removal
(a) (1) A person nominated under § 13-303 of this subtitle or designated under § 13-309 of this subtitle as custodian may decline to serve by delivering a valid disclaimer to the person who made the nomination or to the transferor or the transferor’s legal representative. (2) If the event giving rise to a transfer has not occurred […]
Section 13-209.1 – Form and Limits of Guardianship Accounts
(a) (1) Subject to paragraph (2) of this subsection, a guardian of the property of a minor or disabled person may petition the court to deposit cash belonging to the minor or disabled person in an amount not exceeding $200,000 into a single restricted account. (2) (i) If the amount of cash belonging to a minor or disabled person […]
Section 13-210 – Petition for Orders Granting Relief
(a) An interested person may file a petition for an order: (1) Requiring bond, security, additional bond, or security in an estate where bond can be required; (2) Requiring an accounting of the administration of the estate; (3) Directing distribution; (4) Removing the guardian and appointing a successor guardian; or (5) Granting other appropriate relief. (b) A guardian may petition the appointing […]
Section 13-211 – Procedure in Protective Proceedings
(a) There shall be no jury trial in protective proceedings. Procedures for notice to interested persons, the forms of petitions, and the conduct of and requirements at hearings are as provided in the Maryland Rules. (b) Unless the alleged disabled person has chosen counsel, the court shall appoint an attorney to represent the alleged disabled person in […]