Maine Statutes
§ 33 §1671 — 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.Transferor's option.
The minor's attainment of 18 years of age with respect to custodial property transferred under section 1655 or 1656, unless the transferor has specified in writing in the transferring instrument that the transfer shall not occur until the minor attains a later age, not to exceed 21 years of age. The following words or their substantial equivalent must appear in the transferring instrument:"The custodian shall transfer................ (description of property) to.............(name of minor) when........(he or she) reaches the age of..................(age at which transfer will occur);"
2.Attainment of majority.
The minor's attainmen
Free access — add to your briefcase to read the full text and ask questions with AI
Maine § 33 §1671 (Termination of custodianship) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 1987, c. 734, §2 (NEW).
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