7-8.1 – Trusts for Pets
§ 7-8.1 Trusts for pets (a) A trust for the care of a designated domestic or pet animal is valid. The intended use of the principal or income may be enforced by an individual designated for that purpose in the trust instrument or, if none, by an individual appointed by a court upon application to […]
7-6.25 – Short Title
§ 7-6.25 Short title This part may be cited as “The New York Uniform Transfers to Minors Act.”
7-6.26 – Severability
§ 7-6.26 Severability If any provisions of this part or its application to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this part which can be given effect without the invalid provision or application, and to this end provisions of this part are severable.
7-7.1 – Child Performer Trust Account
§ 7-7.1 Child performer trust account 1. Scope. This section applies to contracts pursuant to which a child performer: (a) is employed or agrees to render artistic or creative services for a fee, either directly or through a third-party individual or personal services corporation (loan-out company), or through an agency or service that provides artistic […]
7-6.18 – Renunciation, Resignation, Death, or Removal of Custodian; Designation of Successor Custodian
§ 7-6.18 Renunciation, resignation, death, or removal of custodian; designation of successor custodian (a) A person nominated under 7-6.3 or designated under 7-6.9 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. If the event giving rise […]
7-6.19 – Accounting by and Determination of Liability of Custodian
§ 7-6.19 Accounting by and determination of liability of custodian (a) A minor who has attained the age of fourteen 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 (1) for an accounting by the custodian or the custodian’s […]
7-6.20 – Termination of Custodianship
§ 7-6.20 Termination of custodianship The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor’s estate upon the earlier of: (a) the minor’s attainment of twenty-one years of age with respect to custodial property transferred under 7-6.4 or 7-6.5; (b) the minor’s attainment of age eighteen or […]
7-6.21 – Age Eighteen Election
§ 7-6.21 Age eighteen election Notwithstanding the foregoing sections of this part, if with respect to any gift made pursuant to 7-6.9, the designations of the custodian contains, in substance, the phrase, “until age eighteen”, then all records of the custodian with respect to such gift shall contain such phrase, and the gift shall be […]
7-6.22 – Effect on Existing Custodianships
§ 7-6.22 Effect on existing custodianships (a) Any transfer of custodial property made before January first, nineteen hundred ninety-seven is validated notwithstanding that there was no specific authority in part 4 of this article for the coverage of custodial property of that kind or for a transfer from that source at the time the transfer […]
7-6.23 – Applicability
§ 7-6.23 Applicability This part applies to a transfer within the scope of 7-6.2 made on or after January first, nineteen hundred ninety-seven if: (a) the transfer purports to have been made under the New York Uniform Gifts to Minor Act; or (b) the instrument by which the transfer purports to have been made uses […]