54.956 – Form and effect of receipt and acceptance by custodial trustee, jurisdiction.
54.956 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 subchapter 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 writing […]
54.892 – Termination of custodianship.
54.892 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: (1) The minor’s attainment of 21 years of age with respect to custodial property transferred under s. 54.860 or 54.862; (2) The minor’s attainment of 18 years of […]
54.894 – Applicability.
54.894 Applicability. Sections 54.854 to 54.898 apply to a transfer within the scope of s. 54.856 made after April 8, 1988, if: (1) The transfer purports to have been made under ss. 880.61 to 880.71, 1985 stats.; or (2) The instrument by which the transfer purports to have been made uses in substance the designation […]
54.896 – Effect on existing custodianships.
54.896 Effect on existing custodianships. (1) Any transfer of custodial property as defined in ss. 54.854 to 54.898 made before April 8, 1988, is validated notwithstanding that there was no specific authority in ss. 880.61 to 880.71, 1985 stats., for the coverage of custodial property of that kind or for a transfer from that source […]
54.898 – Uniformity of application and construction.
54.898 Uniformity of application and construction. Sections 54.854 to 54.898 shall be applied and construed to effectuate their general purpose to make uniform the law with respect to the subject of ss. 54.854 to 54.898 among states enacting it. History: 1987 a. 191; 2005 a. 387 s. 549; Stats. 2005 s. 54.898.
54.92 – Uniform securities ownership by minors act.
54.92 Uniform securities ownership by minors act. (1) Definitions. In this section, unless the context otherwise requires: (a) “Bank” is a bank, trust company, national banking association, industrial bank or any banking institution incorporated under the laws of this state. (b) “Broker” means a person lawfully engaged in the business of effecting transactions in securities […]
54.888 – Renunciation, resignation, death or removal of custodian; designation of successor custodian.
54.888 Renunciation, resignation, death or removal of custodian; designation of successor custodian. (1) A person nominated under s. 54.858 or designated under s. 54.870 as custodian may decline to serve by delivering a valid disclaimer under s. 854.13 to the person who made the nomination or to the transferor or the transferor’s legal representative. If […]
54.890 – Accounting by and determination of liability of custodian.
54.890 Accounting by and determination of liability of custodian. (1) A minor who has attained the age of 14 years, the minor’s guardian of the person or legal representative, an adult member of the minor’s family, a transferor or a transferor’s legal representative may petition the court: (a) For an accounting by the custodian or […]
54.882 – Custodian’s expenses, compensation and bond.
54.882 Custodian’s expenses, compensation and bond. (1) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties. (2) Except for a person who is a transferor under s. 54.860, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services […]
54.884 – Exemption of 3rd person from liability.
54.884 Exemption of 3rd person from liability. A 3rd 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 […]