§ 3230. Termination of custodianship
§ 3230. 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 earliest of: (1) the minor’s attainment of 21 years of age with respect to custodial property transferred under section 3214 or 3215 of this title; (2) the minor’s attainment […]
§ 3231. Applicability
§ 3231. Applicability This chapter applies to a transfer within the scope of section 3212 of this title made after its effective date if: (1) the transfer purports to have been made under the Vermont Uniform Gifts to Minors Act; or (2) the instrument by which the transfer purports to have been made uses in […]
§ 3232. Effect on existing custodianships
§ 3232. Effect on existing custodianships (a) Any transfer of custodial property as now defined in this chapter made before July 1, 2015 is validated, notwithstanding that there was no specific authority in the Vermont Uniform Gifts to Minors Act for the coverage of custodial property of that kind or for a transfer from that […]
§ 3233. Uniformity of application and construction
§ 3233. 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. (Added 2015, No. 7, § 1.)
§ 3234. Severability
§ 3234. Severability If any provisions 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, provisions of this chapter are severable. (Added 2015, […]
§ 3229. Accounting by and determination of liability of custodian
§ 3229. Accounting by and determination of liability of custodian (a) A minor who has attained 14 years of age, the minor’s financial guardian or legal representative, a guardian of the minor appointed pursuant to section 2628 or 2664 of this title, an adult member of the minor’s family, a transferor, or a transferor’s legal […]
§ 3219. Manner of creating custodial property and effecting transfer; designation of initial custodian; control
§ 3219. 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: (A) registered in the name of the transferor, an adult other than the transferor, or a […]
§ 3220. Single custodianship
§ 3220. 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. (Added 2015, No. 7, § 1.)
§ 3221. Validity and effect of transfer
§ 3221. 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 subsection 3219(c) of this title concerning possession and control; (2) designation of an ineligible custodian, except designation of the transferor in the […]
§ 3222. Care of custodial property
§ 3222. 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 observe the standard of care that would be observed by […]