Utah Code 75-5a-123. Effect on existing custodianships
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(1) Any transfer of custodial property as now defined in this part made before July 1, 1990, is validated notwithstanding that there was no specific authority in the 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.
Terms Used In Utah Code 75-5a-123
- Application: means a written request to the registrar for an order of informal probate or appointment under Chapter 3, Part 3, Informal Probate and Appointment Proceedings. See Utah Code 75-1-201 v2
- Minor: means a person who is under 18 years old. See Utah Code 75-1-201 v2
- Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Utah Code 75-1-201 v2
(2) This part applies to all transfers made before July 1, 1990, in a manner and form prescribed in the Uniform Gifts to Minors Act, except as the application impairs constitutionally vested rights or extends the duration of custodianships in existence on July 1, 1990.
(3) Sections 75-5a-102 and 75-5a-121 regarding the age of a minor for whom custodial property is held under this part do not apply to custodial property held in a custodianship that terminated because of the minor’s attainment of the age of majority and before July 1, 1990.