Utah Statutes
§ 75A-8-123 — Effect on existing custodianships.
(1)Any transfer of custodial property as now defined in this chapter made before July 1, 1990, is validated notwithstanding that there was no specific authority in the Uniform Gifts to Minors Act 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 chapter applies to all transfers made before July 1, 1990, in a manner and form prescribed in the Uniform Gifts to Minors Act, except as the application impairs constitutionally vested rights or extends the duration of custodianships in existence on July 1, 1990.
(3)Sections 75A-8-102 and 75A-8-121 regarding the age of a minor for whom custodial property is held under this chapter do not apply to custodial property held in a custodianship that terminated because of t
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Legislative History
Renumbered and Amended by Chapter 364, 2024 General Session
Nearby Sections
15
§ 75A-1-101
Definitions for title.§ 75A-1-102
Transition clause.§ 75A-1-201
Definitions for part.§ 75A-1-202
Transactions prior to May 12, 1925.§ 75A-1-203
Payments or transfers made to a fiduciary.§ 75A-1-206
Checks drawn by or payable to a fiduciary.§ 75A-1-207
Bank deposits in the name of a fiduciary.§ 75A-1-208
Checks drawn in name of a principal.§ 75A-1-209
Deposits in a fiduciary's personal account.§ 75A-1-210
Deposits in name of several trustees.§ 75A-2-101
Reserved.§ 75A-2-102
Definitions for chapter.§ 75A-2-103
Applicability.