Rhode Island General Laws 18-7-21. Termination of custodianship
The custodian shall transfer, in an appropriate manner, the custodial property to the minor or to the minor’s estate upon the earlier of:
(1) The minor’s attainment of twenty-one (21) years of age with respect to custodial property transferred under § 18-7-5 or 18-7-6;
(2) The minor’s attainment of eighteen (18) years of age with respect to custodial property transferred under § 18-7-7 or 18-7-8; or
(3) The minor’s death.
History of Section.
P.L. 1985, ch. 389, § 2; P.L. 1998, ch. 474, § 1.
Terms Used In Rhode Island General Laws 18-7-21
- Custodial property: means :
(i) Any interest in property transferred to a custodian under this chapter; and
(ii) The income from and proceeds of that interest in property. See Rhode Island General Laws 18-7-2
- Custodian: means a person designated under § 18-7-10 or a successor or substitute custodian designated under § 18-7-19. See Rhode Island General Laws 18-7-2
- Minor: means an individual who has not attained the age of twenty-one (21) years. See Rhode Island General Laws 18-7-2
- Transfer: means a transaction that creates custodial property under § 18-7-10. See Rhode Island General Laws 18-7-2