Hawaii Revised Statutes 553A-22 – Effect on existing custodianships

(a) Any transfer of custodial property as now defined in this chapter made before July 1, 1985, is validated notwithstanding that there was no specific authority in the Hawaii 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.

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Terms Used In Hawaii Revised Statutes 553A-22

Custodial property: means (1) any interest in property transferred to a custodian under this chapter and (2) the income from and proceeds of that interest in property. See Hawaii Revised Statutes 553A-1
Minor: means an individual who has not attained the age of twenty-one years. See Hawaii Revised Statutes 553A-1
Transfer: means a transaction that creates custodial property under section 553A-9. See Hawaii Revised Statutes 553A-1

(b) This chapter applies to all transfers made before July 1, 1985, in a manner and form prescribed in the Hawaii 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, 1985.

(c) Sections 553A-1 and 553A-20 with respect to 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 the minor’s attainment of the age of eighteen after March 27, 1972, and before July 1, 1985.

Chapter 553A Contents

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Hawaii Revised Statutes 553A-22 – Effect on existing custodianships

Terms Used In Hawaii Revised Statutes 553A-22

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