§ 11-50-123 — Effect on existing custodianships

Colorado § 11-50-123

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Colorado Uniform Transfers to Minors Act

Text

(1) Any transfer of custodial
property as now defined in this article made before July 1, 1984, is validated
notwithstanding that there was no specific authority in the Colorado Uniform Gifts
to Minors Act, as it existed prior to July 1, 1984, for the coverage of custodial
property of that kind or for a transfer from that source at the time the transfer was
made.

(2) This article applies to all transfers made before July 1, 1984, in a manner
and form prescribed in the former Colorado Uniform Gifts to Minors Act, except
insofar as the application impairs constitutionally vested rights or extends the
duration of custodianships in existence on July 1, 1984.

(3) Sections 11-50-102 and 11-50-121 with respect to the age of a minor for
whom custodial property is held under this article do not apply to custodial
property held in a custodianship that terminated because of the minor's attainment
of the age of eighteen before July 1, 1984.

Legislative History

Source: L. 84: Entire article R&RE, p. 392, � 1, effective July 1.