Utah Code 75A-8-115. Use of custodial property
Current as of: 2024 | Check for updates
|
Other versions
(1) A custodian may deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to:
Terms Used In Utah Code 75A-8-115
- Court: means a court with jurisdiction under Title 78A, Judiciary and Judicial Administration. 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 Section75A-8-119 . See Utah Code 75A-8-102- Interested person: means the same as that term is defined in Section
75-1-201 . See Utah Code 75A-8-102- Minor: means an individual who is under 21 years old. See Utah Code 75A-8-102
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means an individual, corporation, organization as defined in Section
75-1-201 , or other legal entity. See Utah Code 75A-8-102- Petition: means the same as that term is defined in Section
75-1-201 . 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(1)(a) the duty or ability of the custodian personally or of any other person to support the minor; or(1)(b) any other income or property of the minor which may be applicable or available for that purpose. - Custodian: means a person so designated under Section
(2) On petition of an interested person, or the minor if the minor is 14 years old or older, the court may order the custodian to deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the court considers advisable for the use and benefit of the minor.
(3) A delivery, payment, or expenditure under this section is in addition to, not in substitution for, and does not affect any obligation of a person to support the minor.