(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.
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Terms Used In Utah Code 75A-8-114

  • Adult: means an individual who is 21 years old or older. See Utah Code 75A-8-102
  • 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
  • Property: means the same as that term is defined in Section 75-1-201. See Utah Code 75A-8-102
(2) This section does not relieve a custodian from liability for breach of Section 75A-8-113.

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