Idaho Code 68-1308 – General Powers of Custodial Trustee
Current as of: 2023 | Check for updates
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(1) A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.
(2) The provisions of this section do not relieve a custodial trustee from liability for a violation of section 68-1307, Idaho Code.
Terms Used In Idaho Code 68-1308
- Adult: means an individual who is at least eighteen (18) years of age. See Idaho Code 68-1301
- Custodial trust property: means an interest in property transferred to or held under a declaration of trust by a custodial trustee under this chapter and the income from and proceeds of that interest. See Idaho Code 68-1301
- Custodial trustee: means a person designated as trustee of a custodial trust under this chapter or a substitute or successor to the person designated. See Idaho Code 68-1301
- Fiduciary: A trustee, executor, or administrator.
- Property: includes both real and personal property. See Idaho Code 73-114
- Trustee: A person or institution holding and administering property in trust.