Montana Code 72-26-703. Use of custodial property
72-26-703. Use of custodial property. (1) A custodian may deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to:
Terms Used In Montana Code 72-26-703
- Court: means district court. See Montana Code 72-26-502
- Custodial property: means :
(a)any interest in property transferred to a custodian under this chapter; and
(b)the income from and proceeds of that interest in property. See Montana Code 72-26-502
- Custodian: means a person so designated under 72-26-603 or a successor or substitute custodian designated under 72-26-801. See Montana Code 72-26-502
- Minor: means an individual who has not attained the age of 21 years. See Montana Code 72-26-502
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means an individual, corporation, organization, or other legal entity. See Montana Code 72-26-502
- Property: means real and personal property. See Montana Code 1-1-205
(a)the duty or ability of the custodian personally or of any other person to support the minor; or
(b)any other income or property of the minor which may be applicable or available for that purpose.
(2)On petition of an interested person or the minor if the minor has attained the age of 14 years, the court may order the custodian to deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the court considers advisable for the use and benefit of the minor.
(3)A delivery, payment, or expenditure under this section is in addition to, not in substitution for, and does not affect any obligation of a person to support the minor.