Montana Code 72-26-701. Powers of custodian
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72-26-701. Powers of custodian. (1) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers, and authority in that capacity only.
Terms Used In Montana Code 72-26-701
- Adult: means an individual who has attained the age of 21 years. 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
- Property: means real and personal property. See Montana Code 1-1-205
(2)This section does not relieve a custodian from liability for breach of 72-26-702.