Maine Statutes
§ 33 §1662 — Validity and effect of transfer
1.Validity not affected.
The validity of a transfer made in a manner prescribed in this Act is not affected by:
2.Transfer irrevocable.
A transfer made pursuant to section 1660 is irrevocable and the custodial property is indefeasibly vested in the minor, but the custodian has all the rights, powers, duties and authority provided in this Act, and neither the minor nor the minor's legal representative has any right, power, duty or authority with respect to the custodial property, except as provided in this Act.
3.Grant of power.
By making a transfer, the transferor incorporates in the disposition all the provisions of this Act, and grants to the custodian and to any 3rd person dealing with a person designated as custodian, the respective powers, rights and immunities provided by this Act
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Legislative History
PL 1987, c. 734, §2 (NEW). PL 1989, c. 502, §A118 (AMD).
Nearby Sections
15
§ 33 §160
-- mortgage or trust§ 33 §1601-101
Short title§ 33 §1601-102
Applicability§ 33 §1601-103
Definitions§ 33 §1601-104
Variation by agreement§ 33 §1601-105
Separate titles and taxation§ 33 §1601-106
Applicability of local laws and regulations§ 33 §1601-107
Eminent Domain§ 33 §1601-108
Supplemental general principles of law applicable§ 33 §1601-109
Construction against implicit repeal§ 33 §1601-110
Uniformity of application and construction§ 33 §1601-111
Severability§ 33 §1601-112
Unconscionable agreement or term of contract§ 33 §1601-113
Obligation of good faith§ 33 §1601-114
Remedies to be liberally administered