(1) A transfer may be made only for one minor, and only one person may be the custodian.
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Terms Used In Utah Code 75A-8-111

  • Custodial property: means :
         (7)(a) any interest in property transferred to a custodian under this chapter; and
         (7)(b) the income from and proceeds of that interest in property. See Utah Code 75A-8-102
  • Custodian: means a person so designated under Section 75A-8-110 or a successor or substitute custodian designated under Section 75A-8-119. See Utah Code 75A-8-102
  • Minor: means an individual who is under 21 years old. See Utah Code 75A-8-102
  • Person: means an individual, corporation, organization as defined in Section 75-1-201, or other legal entity. See Utah Code 75A-8-102
  • Transfer: means a transaction that creates custodial property under Section 75A-8-109. See Utah Code 75A-8-102
(2) All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship.

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