Section 527.39 — Accounting By And Determination Of Liability Of Custodian.
527.39 ACCOUNTING BY AND DETERMINATION OF LIABILITY OF CUSTODIAN. (a) A minor who has attained the age of 14 years, the minor’s guardian or legal representative, an adult member of the minor’s family, a transferor, or a transferor’s legal representative may petition the court (i) for an accounting by the custodian or the custodian’s legal […]
Section 527.24 — Transfer By Gift Or Exercise Of Power Of Appointment.
527.24 TRANSFER BY GIFT OR EXERCISE OF POWER OF APPOINTMENT. A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to section 527.29. History: 1985 c 221 s 4
Section 527.25 — Transfer Authorized By Will Or Trust.
527.25 TRANSFER AUTHORIZED BY WILL OR TRUST. (a) A personal representative or trustee may make an irrevocable transfer pursuant to section 527.29 to a custodian for the benefit of a minor as authorized in the governing will or trust. (b) If the testator or settlor has nominated a custodian under section 527.23 to receive the […]
Section 527.26 — Other Transfer By Fiduciary.
527.26 OTHER TRANSFER BY FIDUCIARY. (a) Subject to paragraph (c), a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to section 527.29, in the absence of a will or under a will or trust that does not contain an […]
Section 527.27 — Transfer By Obligor.
527.27 TRANSFER BY OBLIGOR. (a) Subject to paragraphs (b) and (c), a person not subject to section 527.25 or 527.26 who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to section 527.29. (b) […]
Section 527.28 — Receipt For Custodial Property.
527.28 RECEIPT FOR CUSTODIAL PROPERTY. A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this chapter. History: 1985 c 221 s 8
Section 527.29 — Manner Of Creating Custodial Property And Effecting Transfer; Designation Of Initial Custodian; Control.
527.29 MANNER OF CREATING CUSTODIAL PROPERTY AND EFFECTING TRANSFER; DESIGNATION OF INITIAL CUSTODIAN; CONTROL. (a) Custodial property is created and a transfer is made whenever: (1) an uncertificated security or a certificated security in registered form is either: (i) registered in the name of the transferor, an adult other than the transferor, or a trust […]
Section 527.30 — Single Custodianship.
527.30 SINGLE CUSTODIANSHIP. A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship. History: 1985 c 221 s 10
Section 527.31 — Validity And Effect Of Transfer.
527.31 VALIDITY AND EFFECT OF TRANSFER. (a) The validity of a transfer made in a manner prescribed in this chapter is not affected by: (1) failure of the transferor to comply with section 527.29, paragraph (c), concerning possession and control; (2) designation of an ineligible custodian, except designation of the transferor in the case of […]
Section 527.32 — Care Of Custodial Property.
527.32 CARE OF CUSTODIAL PROPERTY. (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) In dealing with custodial property, a custodian shall comply with the prudent investor rule set forth in section 501C.0901 […]